Nestle announces over Rs207-crore dividend payout for 2010-11

FMCG major Nestle India will pay out a total of Rs207.29 crore as dividend for the year 2010-11, including Rs12.50 per share for the year 2010 and an interim dividend of Rs9 per share for the year 2011.

The board of directors of Nestle India, the Indian arm of Swiss food major Nestle, at its meeting today, declared an interim dividend of Rs9 per equity share of face value Rs10 each.

The interim dividend, which was approved by the shareholders at its 52nd annual general meeting today, will be paid from 6 May 2011 along with the final dividend for 2010 of Rs12.50 per equity share, the company said in filing with the Bombay Stock exchange (BSE).

The dividend is applicable for the entire issued, subscribed and paid-up equity share capital of the company of 96,415,716 equity shares of the nominal value of Rs10 each.

The company, at its meeting held on 19 April 2011, inter alia, appointed Ashok Kumar Mahindra as an additional director with effect from 21 April 2011. 
 
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.

The Nestle stock was trading at Rs3732.10, up by Rs.2.30 or 0.06 per cent. The stock hit an intraday high of Rs3,743.70 and low of Rs3,705.30. About 840 shares changed hands.