Marico dividend: Rs 4.5 per share dividend declared — check out record date, payment date, other details

Marico dividend announcement: The board of Marico — whose popular products include Parachute coconut oil — declared an interim dividend of Rs 4.5 per share on Monday. The Marico board met earlier in the day to consider the dividend. The FMCG company's board also announced the record date for the payment of the dividend.

Marico dividend record date

Mumbai-based Marico reiterated the record date of March 8 for the dividend, according to a regulatory filing. 

What is record date?

The record date — also referred to as the date of record in market parlance — is the date decided by a company's board that determines which shareholders are eligible to receive a dividend payout.

Therefore, investors holding the Marico stock on March 8 will be eligible to receive the company's latest dividend. 

Marico dividend payment date

Marico said the interim dividend will be paid to eligible shareholders on or before March 28, according to a company statement.

Marico share price 

Marico shares have lost three per cent of their value in the past one month, a period in which the Nifty50 benchmark index has declined 1.4 per cent.

Marico Q3 results

Earlier this month, Marico reported a set of quarterly earnings that met analysts' estimates. Marico's quarterly profit increased five per cent on a year-on-year basis to Rs 333 crore and revenue grew three per cent to Rs 2,470 crore, according to a regulatory filing. 

Its margin, a key measure of profitability, improved by 60 bps to 18.5 per cent. 

According to Zee Business research, Marico's profit was estimated at Rs 320 crore, revenue at Rs 2,494 crore and margin at 18 per cent. Read more on Marico results

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