850% Payout, 1.25% Yield: FMCG Stock To Pay Rs 85/Share Dividend By February-End; Turned Ex-Dividend This Week

Dividend King Stock: Personal care products maker, Gillette India will be paying massive dividends up to Rs 85 per share or 850% by February 2024-end. The total payout includes an interim dividend of Rs 45 per share and a one-time special dividend of Rs 40 per share. For the same, the stock turned ex-dividend this week.

Gillette India Dividend:

As per the regulatory filing, the company's board of directors approved an Interim Dividend for the Financial Year 2023-24 of Rs 85 per Equity Share (Face Value of Rs. 10/- each). This interim dividend includes a one-time special dividend of Rs 40 per equity share to commemorate 40 years of serving consumers, customers, shareholders, employees, and society. The dividend shall be paid on or before February 28, 2023.

The company identified eligible shareholders on the record date which was scheduled on February 8, 2024. The record date is also the ex-dividend date.

This means that shareholders who are holding shares of Gillette by the end of February 8th will receive 850% dividends. Investors after February 8th won't be eligible.

In the previous financial year, the company also paid a dividend of 850% amounting to Rs 85 per share.

At the current market price, Gillette's dividend yield is at 1.25%.

Gillette Share Price:

On Friday, Gillette's share price ended at Rs 6,805.40 apiece, down by 0.50% on BSE with a market cap of Rs 22,175.54 crore. In the trading week from February 5-9, the stock price rose by 3.3% on BSE.

In six months, Gillette's share price has rallied by 24.5% on the exchange. In a year, the upside is over 41%.

Gillette India Results:

In its regulatory filing, on January 30, Gillette said, in a challenging operating environment, the Company delivered balanced growth during the quarter with sales of Rs 639 crore, up 3% vs a year ago. Domestic sales are up 6% vs a year ago, driven by a robust portfolio, superior retail execution and strong brand fundamentals. The Company reported Profit After Tax (PAT) at Rs 104 crores, up 40% vs year ago largely driven by productivity interventions, product price-mix and moderating cost inflation.

LV Vaidyanathan, Managing Director, Gillette India Ltd. shared, "For 7 consecutive quarters now, we have delivered a balanced top-line and bottom-line growth. Our teams' execution of our integrated growth strategy has enabled us to build and sustain strong momentum. We stay committed to our strategies of a focused product portfolio of daily use categories where performance drives brand choice, and superiority - across product performance, packaging, brand communication, retail execution and consumer and customer value - productivity, constructive disruption, and an agile and accountable organization."

The MD added, "We are confident that these strategies will continue to help us deliver balanced growth and value creation."

About Gillette India:

Gillette India Limited (GIL) is one of India's well-known FMCG Companies that has some of the world's leading brands Gillette, Braun and Oral B; and has carved a reputation for delivering superior products to meet the needs of consumers.

Disclaimer: The stock just highlights the dividend and performances, and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.