Nestle India Ltd.'s shares will be in focus on Wednesday after the company announced that it would hold a board meeting on October 19 to consider a second interim dividend as well as its earnings for the quarter that ended in September.

Share Market Live

NSE

Besides the earnings and dividend, the company will also consider a sub-division of equity shares, meaning a stock split. Currently, the shares have a face value of Rs 10 each.

In case the board approves a stock split, it will be the first one for the company in at least the last two decades.

Including an interim and a final dividend, Nestle India paid Rs 98 to shareholders in April this year.

The highest dividend it has paid in recent times is Rs 180, which it paid in August of 2019.

Nestle India is the India unit of Nestle S.A. and is involved in the manufacturing of branded milk products and other food products. It is also known for manufacturing Maggi noodles, soups and sauces.

Shares of Nestle India are up nearly 14 percent so far in 2023. The stock has delivered positive annual returns in eight out of the last ten years.

(Edited by : Amrita)

First Published:Oct 4, 2023 7:11 AM IST