1400 per cent dividend and stock split announced: do you have this stock in your portfolio?

The shares of the company grew by more than 15 per cent in the last one year.

Nestle India Limited announced its quarterly for the quarter ended September 30, 2023. The revenue of the company for Q2FY24, stood at Rs 5009.52 crore which grew by 9.44 per cent YoY. The operating profit of the company stood at Rs 1258.14, growing 21.59 per cent YoY while the PAT of the company grew by 37.28 per cent YoY staying at Rs 908.08 crore.    

The company is paying a second interim dividend of Rs 140 per equity share (1400 per cent) with a face value of Rs 10.00 each, on or after November 16, 2023. This is in addition to the first interim dividend of Rs 27 per share that was paid on May 8, 2023.

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The Board of Directors of the company has proposed a stock split of 10-for-1, which would split each existing equity share with a face value of Rs. 10.00 into 10 equity shares with a face value of Re. 1.00 each.

Nestle India Limited is a subsidiary of Nestle which is a Swiss MNC. The company operates in the Food segment. The company manufactures products under four categories: milk products and nutrition, powdered and liquid beverages, prepared dishes and cooking aids, and chocolates and confectionery. Nestlé India has nine manufacturing facilities in India - at Moga (Punjab), Samalkha Haryana; Nanjangud, Karnataka; Ponda and Bicholim, Goa; Choladi, Tamil Nadu; Pantnagar, Uttarakhand; Tahliwal, Himachal Pradesh; and Sanand, Gujarat.

Investors should keep a close eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.