850% Dividend Paid, 1.28% Yield; FMCG To Declare First Dividend For 2024, Fixes Record Date; Details here

One of the leading shaving kit makers, Gillette India is among dividend-paying stock. After delivering up to 850% dividends in 2023, this FMCG player is all set to declare its first dividend for 2024. The company has also fixed a record date for the same. Gillette will be in focus for its Q3 results scheduled next week.

Gillette India Dividend:

In its regulatory filing, Gillette said "We would like to inform you that at the meeting of the Board of Directors of the Company scheduled to be held on Tuesday, January 30, 2024, the Board may consider the declaration of interim dividend for the Financial Year 2023-24, if any."

Further, the company fixed February 8, 2024, as the record date to determine eligible shareholders for the interim dividend. This will also be the share price's ex-dividend date. To be eligible for Gillette's upcoming dividend, investors will need to ensure that they have their shares in their demat accounts by the record date.

The date of payment will be announced in due course.

In 2023, Gillette paid an interim dividend of Rs 35 per share of 350% followed by a final dividend of Rs 50 per share or 500% for the fiscal year 2022-23. In value terms, Gillette paid up to whopping Rs 231.36 crore worth dividend to its shareholders in 2023, higher compared to payout to the tune of Rs 224.84 2 crore in the previous year.

Currently, Gillette has a dividend yield of 1.28%. As per Trendlyne data, Gillette has delivered up to 32 dividends since June 2001.

Generally, dividends reflect a company's potential and ability to share a portion of its net profits from the respective financial year with its shareholders. They are paid to those eligible shareholders who hold the dividend-paying stock at the specified date. But notably, dividends vary into three categories, interim, special and final.

Gillette India Share Price:

On Saturday, Gillette's share price ended at Rs 6,618 apiece, up by 0.505 on BSE with a market cap of Rs 21,564.90 crore.

The stock's 52-week high and low levels are at Rs 7,318.10 and Rs 4,140 apiece respectively. While its 20% upper circuits and lower circuits are at Rs 7,941.60 and Rs 5,294.40 respectively.

Gillette India Results:

It needs to be noted that Gillette follows June 30th year ending financial year.

The Orab B maker is scheduled on January 30, 2024, to consider and approve Unaudited Financial Results for the Quarter ended December 31, 2023, alongside interim dividend.

In Q2FY24, the company delivered a balanced growth during the quarter with sales of Rs 668 crore, up 8% vs a year ago driven by superior retail execution, strong brand fundamentals and its integrated growth strategy. The Company reported Profit After Tax (PAT) at Rs 93 crores, up 7% vs year ago led by premiumization, and deliberate productivity interventions, partially offset by a one-time expense. Excluding this one-time impact, operational Profit After Tax (PAT) was up 14% versus a year ago.

Gillette India Limited (GIL) is one of India's well-known FMCG Companies that has some of the world's leading brands Gillette and Oral B; and has carved a reputation for delivering superior products to meet the needs of consumers. GIL brands take pride in being socially conscious as part of P&G Shiksha, the flagship CSR program of P&G Group in India, that supports the education of underprivileged children.