1050% Dividend: FMCG Stock To Trade Ex-Dividend Tomorrow For Rs 105; Buy?

Within the FMCG industry, Procter & Gamble Hygiene & Health Care Ltd. is a large-cap firm. FMCG (fast-moving consumer goods) firm Procter & Gamble Hygiene and Health Care Limited (PGHH) is headquartered in India. Product categories that Procter & Gamble (P&G) specialises in include personal care, hygiene, and personal health/consumer health. PGHH was founded in 1964 and has a market cap of around Rs 59 Cr. For FY24, the company has announced an interim dividend of 1050% and the shares will trade ex-dividend on 17th November as per the data available on BSE.

Procter & Gamble Hygiene & Health Care Dividend

For the financial year ended June 30, 2023, the Board of Directors of the company recommended a final dividend of Rs. 105 per equity share at a nominal value of Rs. 10/-per share. Upon approval by the Members at the 59th Annual General Meeting, the dividend shall be paid between November 24, 2023 to December 20, 2023.

As per the data available on BSE, Procter & Gamble Hygiene and Health Care Limited (PGHH) has fixed 18/11/2023-24/11/2023 as the book-closure date and 17th November as the ex-date for the dividend purpose. The book closure date is the deadline by which a shareholder must keep the shares in his or her demat account in order to be eligible for corporate actions like buyback, dividend, bonus, and stock split benefits offered by the company.

Procter & Gamble Hygiene & Health Care Results

For the first quarter that ended in September, Procter & Gamble Hygiene and Health Care Ltd. recorded a 36.44% rise in profit after tax, coming in at Rs 210.69 crore. The company, which works on a July-June fiscal year, recorded a profit after tax in the same quarter of the previous fiscal year of Rs 154.41 crore. Its net sales for the quarter under review were Rs 1,135.06 crore or 9.04% growth YoY.

According to a regulatory filing, the same stood at Rs 1,040.92 crore during the same period last year. From July to September, the company's revenue from operations was Rs 1,138.35 crore, which represents a growth of 8.94% over the same quarter of the previous fiscal. The company's total income climbed to Rs 1,154.12 crore, a 9.74% growth. In the September quarter, the company's total expenses jumped by 2.81% to Rs 869.65 crore, as per a regulatory filing filed by the company.

Procter & Gamble Hygiene and Health Care Limited (PGHH) Share Price Target

Deven Mehata-Equity Research Analyst of Choice Broking said, "PGHL, currently trading at 5125 levels, is exhibiting a sideways trading pattern within the range of 4900-5250 for the past 7 weeks. This consolidation suggests a period of indecision or equilibrium in the market. The lower end of this range, around 4900, serves as a strong support level and aligns with the 200-Day Exponential Moving Average (EMA). This confluence enhances the significance of this support level, indicating a potential bounce when the price approaches it."

"There's a minor resistance observed near the upper end of the range, around 5250 levels. A successful breach of this resistance may pave the way for an upward movement towards the next resistance at 5500 levels. This presents a potential opportunity for traders. Currently, PGHL is trading above all important moving averages, signalling strength in its trend. The momentum indicator RSI is at 50 levels, indicating a neutral position. This suggests a balanced market sentiment without a clear bias towards overbought or oversold conditions. For investors holding from lower levels, it's advisable to trail their stop loss at the lower end of the range, around 4900. This approach helps protect gains while allowing for potential upside," the analyst further added.

Disclaimer

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