This FMCG company announces 450% interim dividend - Check record date, other details

Marico Dividend Record Date: Marico Ltd., a consumer goods firm that deals in wellness, health, and beauty products, has designated March 8 as its record date for identifying the shareholders qualified for an interim dividend.

The board of Marico has declared an interim equity dividend of 450 per cent or Rs 4.50 per equity share worth Rs 1 each, according to the company's exchange report. Those shareholders will get the interim dividend on or before Tuesday, March 28.

Dividend payment is the distribution of a company's profits to its shareholders. Companies frequently employ dividends to distribute excess earnings to investors; they are typically paid in cash but can also be in the form of company stock.

Since September 4, 2000, the FMCG major has declared 60 dividends, according to trendlyne statistics.

The shares will trade ex-dividend on the record date.

Marico gave its shareholders an equity dividend totalling 925 per cent of 9.25 per share in FY22 alone.

Financials

For the quarter that concluded on December 31, 2022, Marico recorded consolidated sales of Rs 2,510.0 crore, a decrease of 0.2 per cent from the previous quarter's Rs 2515.0 crore and a decrease of 3.33 per cent from the same quarter a year ago.

The most recent quarter's net profit after taxes was Rs 328.0 crore, an increase of 5.81 per cent over the same period last year.

Marico has made investments in companies like Just Herbs and Beardo. It bought the majority of True Elements, a breakfast and snack business, and now plans to invest in more direct-to-consumer startups to expand its bouquet of digital-first brands.

In its ninth edition, the Marico Innovation Foundation (MIF) last week announced that it has honoured seven businesses and people in the categories of technology, healthcare, and social impact.

Innovations were recognised in two major categories: companies, which included start-ups and corporate innovators operating in India, and social category.