2300% vs 2200% Dividends: Asian Paints vs Hindustan Unilever, Which Mega FMCG Stock To Buy After Dividends?

Two consumer product behemoths, Asian Paints and Hindustan Unilever (HUL), turned ex-dividend on June 23, 2026, for their dividend payouts of a whopping 2300% and 2200%. Asian Paints and Hindustan Unilever are giants of their industries, such as oil & paints and FMCGs. That being said, which large-cap stock should you buy after dividend rewards?

Asian Paints Ltd vs Hindustan Unilever Ltd Final Dividends:

Asian Paints went ex-dividend on June 23 for its final dividend payout of Rs 23 per share or 2300% for FY26. The company plans to credit this dividend on or after July 13, 2026.

Meanwhile, HUL turned ex-dividend for RS 22 per share or 2200% for FY26. HUL is expected to deliver the dividend in the coming days to eligible shareholders' Demat accounts.

It needs to be noted that June 23rd is also the record date fixed by the two companies to identify eligible shareholders. This means if you pick Asian Paints and HUL shares after June 23rd, you will not be eligible for Rs 23 and Rs 22 dividends.

Asian Paints Ltd vs Hindustan Unilever Ltd Share Price

On the ex-date, Asian Paints share price closed at Rs 2,660.70 apiece on BSE, down by 0.52% with market cap of Rs 2,55,213.76 crore.

Moreover, HUL shares finished at Rs 2159.75 apiece, down by 1.16% with market cap of Rs 5,07,452.97 crore.

Asian Paints Ltd vs Hindustan Unilever Ltd Share Price Recommendations: Which To Buy?

Asia Paints Share Price:

Analysts at ICICI Direct and Axis Direct are the latest to recommend BUY on Asian Paints for a target price of Rs 3180 and Rs 3130 apiece respectively. These indicate potential 17% to 20% upside in Asian Paints ahead.

"The company has undertaken price hike of 10%-11% to mitigate input cost pressure. Volume-value will reduce to 3-4% from 5-6% due to uptick in the sale of premium products. Overall, we expect the standalone business to grow by mid-teens in FY27," said analysts at ICICI Direct in a note.

Further, they added that the management has maintained its guidance of 18-20% EBIDTA margins in the near term. Adding they said, "We expect EBIDTA margins to remain to remain close to lower end of guidance in H1FY27 and likely to improve in H2FY27 with stability in the input prices. Overall we expect EBIDTA margins to be at 18.2% in FY27."

Lastly, analysts said, "We expect APL's revenues and earnings to grow at CAGR of 14% over FY26-28E. We recommend Buy with a revised price target of Rs.3,180 (valuing at 52x its FY28E EPS of Rs61.0)."

Hindustan Unilever Share Price

The consensus recommendation from 38 analysts for Hindustan Unilever is BUY, as per Trendlyne data.

Recently, analysts at Geojit highlighted that HUL's performance was steady due to smart changes to its product line-up, stronger online and store presence, and faster growth in beauty and wellbeing. Key actions such as separating the ice cream business, fully buying OZiva and growing Minimalist show spending on areas with better potential. Investments in premium products, quick-delivery services and factory expansions are expected to strengthen the market position.

HUL expects to better its performance in the coming year, with midterm margins guided within the current range. A simplified structure and digitalfirst approach are expected to quicken execution. Careful cost management and a positive growth outlook for India are expected to help HUL improve its performance.

Hence, they said, "we retain our BUY rating on the stock, with a revised target price of Rs. 2,602 based on 48x rolled-forward FY28E adj EPS." This signals over 20% potential gains.

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