Final Dividend of Rs 24: Largest FMCG Stock By Market Cap To Hit-Ex-Date In 4 Days; Buy/Sell?

The largest FMCG firm in India is Hindustan Unilever Limited (HUL), with a market capitalization of Rs 6,02,482.19 Cr. The firm has a robust and expansive portfolio including over 50 brands that span 16 FMCG categories. With the FMCG stock set to hit ex-dividend in 4 days for the highest-ever payout of Rs 24 per share, market watchers are likely to be keeping a close eye on it this week. HUL's shares closed at Rs 2564.20 a share on Monday. HUL shares recorded a 52-week-high of Rs 2,768.50 on (07/07/2023) and a 52-week-low of Rs 2,170.25 on (16/04/2024).

Hindustan Unilever Dividend

The Board of Directors "Recommended a final dividend of Rs. 24/- for the financial year ended 31st March, 2024 on Equity Shares of Re. 1/- each. The Company had earlier paid an interim dividend of Rs. 18/- per share on 16th November, 2023. The total dividend for the said period amounts to Rs. 42/- per Equity Share of face value of Re. 1/- each," said HUL in a statement.

"Further, the Register of Members of the Company will remain closed from Saturday, 15th June, 2024 to Friday, 21st June, 2024 (both days inclusive) for the purpose of payment of Final Dividend and AGM of the Company," HUL informed the stock exchanges.

As per the data available on BSE, HUL shall turn ex-dividend on 14th June for the above-mentioned payout.

Hindustan Unilever Management Guidance

Rohit Jawa, CEO and Managing Director commented: "In FY'24 we delivered a resilient performance with 3% USG and crossed Rs. 10,000 crores Net Profit mark. We remain focused on driving operational excellence and have continued to build back our gross margins whilst stepping up investment in brands and long-term capabilities. Looking forward, I am optimistic of consumer demand gradually improving due to a normal monsoon and better macro-economic indicators."

"With rising affluence, under-indexed FMCG consumption and a strong digital infrastructure, I remain very confident of the medium to long-term potential of Indian FMCG sector. To serve the evolving aspirations of Indian consumers, we have embarked on a journey of 'Transform to Outperform'. Our key thrusts of Growing our Core through Unmissable Brand Superiority, Market making and Premiumisation, Re-shaping our portfolio to high growth spaces and Leadership in Channels of future, backed by our distinctive capabilities will enable us to continue winning in the Indian FMCG sector," he further added.

Hindustan Unilever Share Price Target

Deven Mehata - Equity Research Analyst at Choice Broking said, "Hindustan Unilever Limited (HINDUNILVR) has demonstrated resilience, rebounding from the support level at 2500 and is currently trading at approximately 2570, surpassing its 20-day, 50-day and 200-day Exponential Moving Average (EMA). The momentum indicator, Relative Strength Index (RSI), currently at 68.72, is on an upward trajectory, indicating strengthening momentum."

"A minor resistance is observed near 2640 levels. Upon surpassing this resistance level, the stock is poised to move towards the target of 2770 and beyond. This technical setup suggests a positive outlook for HINDUNILVR, with the potential for further upside once the noted resistance is successfully breached. Investors and traders may find it opportune to monitor the stock's movement around the mentioned resistance levels, considering the RSI and moving averages for potential trading decisions," he further added.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.