Marico shares close flat as FMCG firm announces interim dividend

Shares of Marico Ltd ended on a flat note today even as the FMCG firm announced an interim dividend of Rs 6.5 per equity share of Re. 1 each. The record date for the said interim dividend will be March 6, 2024. The second interim equity dividend for the financial year 2023-24 will be paid to such shareholders on or before Thursday, March 28, 2024, said Marico in a communication to bourses.

Marico shares ended 0.44% lower at Rs 523.25 on BSE today. The large cap stock has gained 6.79% in one year and fallen 3.45% since the beginning of this year. Market cap of the firm stood at Rs 67,703 crore on BSE.

The stock fell to a 52-week low of Rs 462.95 on April 20, 2023 and rose to a 52-week high of Rs 595 on October 10, 2023. Total 0.25 lakh shares changed hands amounting to a turnover of Rs 1.32 crore. Marico shares are trading lower than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages.

Marico also announced the appointment of Nikhil Khattau as an additional director (Non-Independent Non-Executive) with effect from April 1, 2024, liable to retire by rotation and subject to approval of the shareholders.

Marico reported a 15.9 per cent rise in its consolidated net profit at Rs 386 crore in the third quarter of the fiscal year 2024 as compared to Rs 333 crore in the October-December quarter a year ago. Revenue from operations slipped 1.94 per cent to Rs 2,422 crore in Q3 of FY24 from Rs 2,470 crore a year ago.