Nestle India pays 270-per cent second interim dividend

Nestle India Ltd has declared a second interim dividend of Rs27 per equity share of Rs10 face value (270 per cent), for the year 2011.

The dividend will by paid on the entire issued, subscribed and paid-up share capital of the company of 96,415,716 equity shares of the nominal value of Rs10 each, the company said in a stock market filing.

The board of directors of the company at its meeting today approved the payout. The board also fixed 13 December as the record date for the purpose of determining entitlement of shareholders to the interim dividend.

Further, the company said the payment date for the second interim dividend would be on and from 22 December 2011.

The second interim dividend for 2011 will be paid on and from 22 December 2011 to those members whose names appear on the register of members of the company and as beneficial owners in the depositories, determined with reference to the record date of 13 December 2011.

Nestle India reported net profit of Rs261.18 crore on net sales of Rs1,963.10 crore for the quarter ended 30 September 2011.

Domestic sales of the company increased by 20.7 per cent on account of selling prices and volumes. Exports, which grew 4.6 per cent, has been adversely impacted by the ban on exports of milk powder.