Nestle down 1% as stock turns ex-dividend

Shares of Nestle India fell over 1% today as the stock turned ex-dividend from today. On the NSE, the stock has shed Rs 145.70 or 1% to Rs 14,020.60. Markets adjusted the price to the divedend announced by the company earlier. Volumes traded in the counter were around 34,645 shares as at 12.50 pm today.

The company’s board of directors had declared a third interim dividend of ₹55 a share for 2019. Shareholders who wished to receive the dividend should have bought Nestle’s shares last Friday.

Earlier in August, Nestle India had rewarded its shareholders with ₹23 as an interim dividend and ₹180 as a special dividend. In May, the FMCG major had also paid out ₹23 per share to its shareholders