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FMCG sector giant Marico Limited has recently announced a dividend declaration for its valued shareholders.
The decision came through as the company’s board officially approved the second interim dividend of Rs 6.50 per share on February 27.
Despite this positive development, the market response was relatively subdued, and the company’s stock closed at Rs 523.25 on the Bombay Stock Exchange (BSE), reflecting a marginal decline of 0.44 percent.
Notably, Marico Limited boasts a substantial market capitalization, surpassing Rs 67 thousand crores.
The stock’s 52-week high stands at Rs 595, while the 52-week low is recorded at Rs 462.95.
The record date for the Marico dividend has been set for March 6. Eligible investors meeting the specified criteria will receive the dividend payment by March 28.
This dividend announcement follows the company’s pattern from the previous year, during which it declared two dividends in 2023.
In November 2023, Marico issued an interim dividend of Rs 3 per share, followed by another interim dividend of Rs 4.50 in March of the same year.
Examining Marico Limited’s recent quarterly results, the company reported a noteworthy 16 percent year-on-year growth in its consolidated net profit for the October-December quarter.
The net profit stood at Rs 386 crore, a substantial increase from the Rs 333 crore recorded in the corresponding quarter of the previous year.
However, the company’s revenue experienced a modest decline of 2 percent year-on-year, reaching Rs 2,422 crore, compared to Rs 2,470 crore in the same quarter the previous year.
Analyzing the stock performance of Marico Limited, it is observed that in the last month, the shares delivered a modest return of 1 percent.
Over the past six months, however, the stock witnessed a 6 percent decline. Investors in Marico Limited have seen a 6 percent return over the past year. Looking at a more extended horizon, the stock has shown substantial growth, with a commendable 56 percent increase over the last five years.
This historical performance reflects Marico Limited’s resilience and long-term growth potential in the FMCG sector.
Source:
Marico Announces Interim Dividend of Rs 6.50
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