500% interim dividend: The record date is approaching; check the details here!

Indian headline indices traded flat, reflecting the sluggishness in most Asian markets. The broader indices, on the other hand, outperformed the main indices by a significant margin. The BSE Fast Moving Consumer Goods index was trading higher, led by significant gains in Jyothy Labs Ltd and Mrs Bectors Food Specialities Ltd.

Godrej Consumer Products Ltd was one of the trending stocks today due to the upcoming record date for the interim dividend. The record date for the 500% dividend is scheduled for tomorrow, November 09, 2023. The board of directors of Godrej Consumer Products Ltd has approved the payment of an interim dividend of Rs 5 per equity share of the face value of Re 1 each for the financial year ending March 31, 2024. The dividend will be paid to the shareholders on or before December 01, 2023. It would result in a dividend payout of Rs 511 crore.

Considering the segment-wise performance of the company for the last quarter, unbranded exports and home care segments reported comparatively higher year-on-year growth of 6% and 5%, respectively. Considering the performance in Africa, the Middle East, and the USA, the business recorded double-digit constant currency sales growth.

The company’s goal is to achieve a 35% renewable energy share in its energy mix while reducing water intensity by 40% and generating zero waste for landfill. It also plans to implement efficient waste management systems in seven Indian municipalities, diverting over 5,000 metric tons of waste from landfills.

Godrej Consumer Products Ltd is a fast-moving consumer goods (FMCG) company that manufactures and markets household and personal care products. Shares have climbed more than 24% in the past year and are currently trading at Rs 1,026 per share, with a 52-week high of Rs 1,101 per share on the BSE.

Keep a close eye on this stock for the upcoming trading sessions.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.