Introduction:
Nestlé India Limited, in compliance with Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), has announced an Interim Dividend for the financial year 2024-25.
Details:
- Dividend Amount: Rs. 2.75 per equity share of face value Re. 1 each.
- Total Shares: The dividend applies to the entire issued, subscribed, and paid-up share capital comprising 96,41,57,160 equity shares.
- Payment Date: Dividend payout commences from 6th August 2024.
- Approval Pending: Final dividend for the fifteen-month financial year ended 31st March 2024 is subject to approval at the 65th Annual General Meeting scheduled for 8th July 2024.
- Record Date: 16th July 2024 has been fixed for determining eligible shareholders.
Meeting Details:
Analysis:
Nestlé India’s declaration of an Interim Dividend reflects the company’s robust financial health and commitment to enhancing shareholder value. The dividend announcement, coupled with the upcoming AGM where final dividend approval is anticipated, underscores management’s proactive approach in rewarding shareholders amidst a challenging economic environment.
Nestlé India Declares Rs. 2.75 Interim Dividend for FY 2024-25: Insights and Impact:
The proactive communication to stock exchanges and shareholders ensures transparency and compliance with regulatory requirements under SEBI’s Listing Regulations. Nestlé India’s prudent dividend policy is likely to bolster investor confidence and maintain positive momentum in its stock performance.
Conclusion:
With the declaration of an Interim Dividend and pending final dividend approval, Nestlé India continues to prioritize shareholder interests while navigating market dynamics effectively.
Investors and stakeholders can anticipate further insights following the AGM, reinforcing Nestlé India’s position as a reliable performer in the FMCG sector.
Frequently Asked Questions FAQ –
1. What is an Interim Dividend?
- An Interim Dividend is a dividend declared and distributed by a company before the end of its financial year. It is usually paid out of the company’s accumulated profits.
2. How much is Nestlé India’s Interim Dividend for FY 2024-25?
- Nestlé India has declared an Interim Dividend of Rs. 2.75 per equity share of face value Re. 1 each for the financial year 2024-25.
3. When will the Interim Dividend be paid?
- The Interim Dividend for FY 2024-25 will be paid on and from 6th August 2024, subject to approval at the 65th Annual General Meeting scheduled for 8th July 2024.
4. How is the eligibility determined for receiving the Interim Dividend?
- Shareholders whose names appear in the Register of Members of Nestlé India or in the Register of Beneficial Owners maintained by the Depositories as on the Record Date, which is 16th July 2024, will be eligible to receive the Interim Dividend.
5. What was discussed at the Board of Directors’ meeting regarding the Interim Dividend?
- The Board of Directors of Nestlé India held a meeting on [Date], where they approved the declaration of the Interim Dividend. The meeting commenced at 9:00 hours and concluded at 9:22 hours.
6. What are SEBI’s Listing Regulations, and how do they relate to Nestlé India’s dividend declaration?
- SEBI’s Listing Regulations, 2015, govern the disclosure and listing obligations for companies listed on stock exchanges in India. Nestlé India complies with these regulations in declaring and communicating its dividends to ensure transparency and regulatory adherence.
7. Why did Nestlé India decide to declare an Interim Dividend?
- Nestlé India’s decision to declare an Interim Dividend reflects its strong financial position and commitment to distributing profits to shareholders in a timely manner. It also aims to enhance shareholder value and maintain investor confidence.
8. How can shareholders stay updated on further developments regarding the Interim Dividend?
- Shareholders and interested parties can stay informed by checking official communications and disclosures from Nestlé India, including updates through stock exchanges and the company’s website.
9. Will there be any tax implications for receiving the Interim Dividend?
- Tax implications, if any, related to the Interim Dividend should be verified with a tax advisor or financial consultant. Dividend income may be subject to taxation as per applicable laws.
10. What are the next steps for Nestlé India following the declaration of the Interim Dividend?
- Nestlé India will await approval of the final dividend for the fifteen-month financial year ended 31st March 2024 at its upcoming Annual General Meeting. Further updates will be communicated to shareholders accordingly.
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