Nestle Board approves for stock split
If you also have shares of Nestle Company, then there is a big update for you. Those holding Nestle shares are now going to have more shares in their demat accounts. The company has decided to split its shares (Nestle Stock Split). Nestle shares will be divided. The board of the company has given its approval today. The company has said that the shares will be divided in the ratio of 1:10.
Dividing shares in the ratio of 1:10 means that if you currently have one share, it will be divided into 10. Now if someone has 100 shares of Nestle then their number will become 1000.
Today the stock closed at the level of 24,122
Today the shares of Nestle Company closed at the level of 24,122.00 with a rise of 3.66 percent i.e. Rs 852.35. In the last 6 months, the company’s stock has increased by 17.83 percent i.e. Rs 3,649.95.
Company announced dividend
Apart from this, the board of the company has also declared dividend for the shareholders. The company has decided to give a dividend of Rs 140 per share for 2023. This time the company will distribute dividend of Rs 1,349.82 crore. This dividend will be paid around November 16. Apart from this, the company had distributed dividend of Rs 27 per share on May 8.
Company’s net profit increased by 37.28 percent
In the second quarter of the current financial year 2023-24, the company’s net profit has increased by 37.28 percent to Rs 908.08 crore. The net profit of the company in the same quarter of the last financial year was Rs 661.46 crore. Nestle India Limited said in the information given to the stock market that during the period under review, net sales increased by 9.43 percent to Rs 5,009.52 crore, whereas in the same period last year it was Rs 4,577.44 crore.
