FMCG Co Sets Nov 10 As Record Date For Dividend, Shares Near 52-Week Low

Large cap FMCG company, Dabur India Ltd fixed November 10, 2023 as the record date for interim dividend on equity share for the FY 2023-24, if declared by Board at the November 2, 2023 meeting. Last trading price of Dabur India share on BSE is Rs 521.00 per share. Currently, Dabur India stock is trading just 3% away from its 52-week low price of Rs 504.00 apiece. Dabur India stock declined 8% in last 3-months.

Earlier on October 19, 2023 Dabur India shares witnessed a decline of 1.62% in morning trade on BSE to 525.50 per share after its subsidiaries were sued in US and Canada by customers who reportedly alleged the use of the company's hair relaxer products caused ovarian cancer, uterine cancer and other health issues. The large cap FMCG company stated that there are approximately 5,400 cases against several companies including its subsidiaries Namaste Laboratories, Dermoviva Skin Essentials and Dabur International.

Dabur said, cases have been filed in both federal and state courts in the United States and in Canada. The federal cases were consolidated as a Multi-District Litigation, also referred to as MDL, before the United States District Court for the Northern District of Illinois.

Dabur India Sets Record Date For Interim Dividend: According to the BSE filing of the company dated today, "Pursuant to provisions of Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Company has fixed Friday, 10th November 2023 as record date for the purpose of ascertaining the name of Members/Beneficial Owners entitled to receive the Interim Dividend on equity shares for the Financial Year 2023-24, if declared by the Board of Directors at its meeting scheduled to be held on 2nd November 2023."

Dabur India Stock Performance & Return: Last trading price of Dabur India share on BSE is Rs 521.00 per share. The stock's 52-week high price is Rs 610. 40 per share. Dabur India has a market capitalisation of Rs 92,323.01 crore. Dabur India shares fell 2% in last 1-year, declined 10% in last 2-years, and offered return of 30% in last 5-years.

Earlier, Dabur India informed BSE that it will consider declaration of interim dividend along with unaudited financial results on November 2, 2023 for the quarter ending September 30, 2023, according to its BSE filing.

Dabur India Q4 Dividend: The company on May 4, 2023 recommended a final dividend of Rs 2.70 per equity share with face value of Re 1/- each (270%) for the financial year 2022-23. Dabur India shares traded ex-dividend on July 21, 2023. Dabur India announced 47 dividends since May 23, 2001. In last 12 months, the company announced an equity dividend amounting to Rs 5.20 per share. If current market price of Dabur India share is taken into consideration, it offers a dividend yield of 0.94%, according to Trendlyne.

Dabur India Valuation: Brokerage firm HDFC Securities, in its brokerage report dated September 18, 2023, assigned "add" call to Dabur India shares with target price of Rs 650 apiece. The analyst said, "We believe our estimates are already in line; however, if Dabur can achieve the margin and growth targets, it would justify our rerating argument. We do not expect price cuts to impact Dabur's revenue growth in FY24, unlike its peers. We maintain our EPS estimates and value the stock at 45x P/E on Sep-25EPS to derive a target price of INR 650. Maintain ADD."

Dabur India About: Dabur India Limited is a leading Indian consumer goods company with interests in hair care, oral care, health care, skin care, home care and food & beverages. Dabur India Ltd. is one of India's leading FMCG Companies with Revenues of over Rs. 11,530 Crores & Market Capitalization of over Rs. 96,500 Crore. Building on a legacy of quality and experience of over 139 years, Dabur is today India's most trusted name and the world's largest Ayurvedic and Natural Health Care Company, according to its official website.

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