Rs 50/Share Dividend: Largecap FMCG Stock Hits New 52-Week HIgh Ahead Of Dividend Record Date

Largecap stock in the FMCG segment, Gillette India has touched a new 52-week high of Rs 6,419.20 per share on BSE. The stock ended the trading week from September 11th to 15th on a bullish note with an upside of over 7%. Year-to-date, the stock has rallied by over 25%. Gillette gives impressive returns to investors ahead of its dividend rewards for shareholders.

As per the regulatory filing, Gillette has declared a final dividend of Rs 50 per equity share of face value of Rs 10 each for the company's Financial Year 2022-23. The company fixed November 21 as the record date for determining eligible shareholders for the benefit of the dividend.

It also said, "The said final dividend, if approved at the ensuing 39th Annual General Meeting, will be payable to those shareholders whose names appear in the Register of Members of the company or in the records of the Depositories as beneficial owners of the shares as at the close of business hours on Tuesday, November 21, 2023 (Record date)."

On Friday (September 15), the stock settled at Rs 6285.90 apiece, up by 3.01% after touching a new 52-week high of Rs 6,419.20 apiece on the same day. On the latest price level, the company has dividend yield of 1.35%.

Gillette is also among high-paying FMCG stocks with a track record of 30 dividends payout since June 2001, as per Trendlyne data. In the past 12 months, the company has declared an equity dividend amounting to Rs 71 per share.

Further, the Trendlyne technical data revealed that Gillete's weekly average delivery volume is 54.63%. The stock has an RSI of 73.6 and an MFI of 87.4 --- implying that the stock may show a pullback. However, the MACD of the stock stood at 155, signalling a bullish indicator.

Last month, the company announced its financial results for the quarter and fiscal ended June 30, 2023. During the quarter, the Company delivered a strong performance with sales of Rs 619 crore, up 12% versus a year ago driven by strong brand fundamentals and superior retail execution. Profit After Tax (PAT) for the quarter was Rs 92 crore, up 36% versus a year ago behind strong sales growth and productivity in the current quarter.

Accordingly, Gillette ended the fiscal FY23 with double-digit growth across the top-line and bottom-line. The Company delivered sales of ₹2477 crore, up 10% versus a year ago, despite unprecedented headwinds from macroeconomic challenges and commodity inflation during the year. Profit After Tax (PAT) for the fiscal year, was ₹356 crore, up 23% versus a year ago behind product price mix and high productivity.

LV Vaidyanathan, Managing Director, Gillette India on August 29 said that for FY24, it will continue to focus on our growth strategies towards delivering balanced and sustained growth in a competitive macroeconomic environment.

Gillette India 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.