Companies

Nestle board proposes 100% interim dividend

PTI Mumbai | Updated on April 19, 2011 Published on April 19, 2011

Leading FMCG firm Nestle India has said its board of directors has recommended a nearly 100 per cent interim dividend of Rs 9 per share for the year 2011.

The company said the amount is over and above the final dividend of Rs 12.50 per share announced for the year 2010 as approved by the shareholders at the 52nd annual general meeting held today.

“The interim dividend shall be paid on and from May 6, 2011 ...on the entire issued, subscribed and paid-up capital of the company of 96,415,716 shares of the nominal value of Rs 6 each,” Nestle India said in a filing to the Bombay Stock Exchange.

Besides, the company also announced the appointment of Mr Ashok Kumar Mahindra as an additional director with effect from April 21, 2011.

Mr Mahindra is a fellow member of the Institute of Chartered Accountants of India and the Institute of Chartered Accountants in England and Wales. He is also an associate member of Institute of Taxation in England.

He was earlier working as Managing Partner of A F Ferguson & Co and Co-Chairman of Delloitte, Haskins and Sells in March 2008, the company said.

Published on April 19, 2011
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