Dividend stocks: Cyient and Nestle India stocks to trade ex-dividend today
Dividend stocks 2023: Cyient Shares and Nestle India share price will be in focus when the stock market opens today. The board of directors of these companies have declared dividend for its eligible shareholders. The dividend is a percentage of earnings paid out to shareholders.
Cyient declared an interim dividend of Rs 12 per share (240%) and Nestle India’s board has declared Rs 140 per share (1400%) interim dividend. Cyient: For the second quarter of fiscal year 2024, Cyient had reported a rise in its revenue on strong growth in sustainability and transportation segments. The company's consolidated revenue from operations jumped 27.4% at ₹1,779 crore for the September quarter.
Its consolidated net profit saw an over two-fold rise at ₹178 crore in the September quarter from a year ago. For the fiscal year 2023, Cyient declared an equity dividend of 520.00% amounting to ₹26 per share. Shares of Cyient closed down 0.12% at Rs 1,587 on the NSE on Tuesday.
Nestle India: Nestle India’s profit soared 37.3% at ₹908 crore for the third quarter ended September 30, on higher demand for its KitKat and Munch chocolates as well as Maggi instant noodles. Its revenue from operations rose 9.5% at ₹5,037 crore. The Indian arm of Swiss chocolatier Nestle SA had said that its board had approved a split of each equity share into 10 to make them more affordable to retail investors.
It also declared a second interim per-share dividend for 2023 of ₹140. Last fiscal year, Nestle India Ltd gave ₹362 for the full year dividend. Shares of Nestle India closed at Rs 24,252.60, 0.33% up, on the NSE on Tuesday.
Read more on livemint.com
