Nestle India Dividend: Last Day To Buy Shares To Qualify — Details Here
Nestle's board had announced a final dividend of Rs 10 per share.
Shares of Nestle Ltd. will be of interest on Thursday, as the day marks the last session for investors to buy shares to qualify for receiving the dividend before the stock goes ex/record-date.
The record date determines the eligible shareholders who will receive the dividend payment. The ex-dividend date, which mostly coincides with the record date, marks when the share price adjusts to reflect the upcoming payout.
Nestle's board had announced a final dividend of Rs 10 per share. The record date to determine the shareholders eligible for the dividend payout has been fixed as July 4.
After posting fourth quarter results, the company announced total dividend of Rs 10 per share with payout record date set at July 24, following approval from its board of directors.
Given India's T+1 settlement cycle, shares purchased on the record date (July 4 in this case) will not be eligible for the dividend payment. Therefore, investors who own shares by July 3 will be the beneficiaries.
In the fourth quarter, Nestle's net profit fell to Rs 885.4 crore, down from Rs 934 crore in the same period last year, primarily due to higher raw material inflation. Revenue from operations increased by 4.5% to Rs 5,503.8 crore, compared to Rs 5,268 crore a year ago, aligning closely with Bloomberg's estimate of Rs 5,495 crore.
Nestle India's Ebitda rose by 3% to Rs 1,388.9 crore, though Ebitda margins contracted slightly to 25.2% from 25.6%. The company continues to face input cost pressures, particularly in key raw materials like palm oil and coffee, which have remained elevated.
Its domestic sales grew by 4.3% year-on-year to Rs 52,349.8 crore, while export sales declined by 8.7% to Rs 2,126.6 crore.
