Nestle India to mull stock split, second interim dividend on Oct 19; stock gains over 4%

Nestle India share price, Nestle India stock split news, Nestle India dividend 2023 record date: The packaged food major Nestle India, in its board meeting scheduled for October 19, will consider declaring a second interim dividend for 2023, if any. In addition, the board of the company will also be considering the proposal of a stock split, the company said in its exchange filing. Reacting to the development, shares of the company on Wednesday, October 4, rallied as much as 4.45 per cent to hit a high of Rs 23,333.65 apiece on the BSE in the early trade. 

The company’s board will meet later this month to consider the unaudited financial results of the company for the third quarter and nine months ended September 30, 2023.

Nestle India dividend 2023 record date

If the company announces a second interim dividend, the record date for the same has been fixed as November 1, 2023. The record date is the date based on which investors’ eligibility for the dividend is determined, i.e. investors holding the shares of Nestle in their Demat as of the record date will be entitled to the dividend payout.

Further, the company’s filing clarified that the second dividend, if declared, will be paid on and from November 16, 2023. Nestle’s first interim dividend for 2023 amounted to Rs 27, and in respect of the same, the stock turned ex-dividend on April 21. As per the Trendlyne data, the company has declared 67 dividends since 2001. For the year 2022, the company declared a dividend of 2200 per cent which amounts to Rs 220 apiece. This at the current share price of Rs 23,150, translates into a dividend yield of 0.95 per cent.

(With data inputs from Trendlyne)

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