Nestle India declares interim dividend of Rs 9 per share for 2011

MUMBAI: Leading FMCG firm Nestle India today said its board of directors has recommended a nearly 100 per cent interim dividend of Rs 9 per share for the year 2011.

The company said the amount is over and above the final dividend of Rs 12.50 per share announced for the year 2010 as approved by the shareholders at the 52nd annual general meeting held today.

"The interim dividend shall be paid on and from May 6, 2011 ...on the entire issued, subscribed and paid up capital of the company of 96,415,716 shares of the nominal value of Rs 6 each," Nestle India said in a filing to the Bombay Stock Exchange.

Besides, the company also announced the appointment of Ashok Kumar Mahindra as an additional director of the company with effect from April 21, 2011.

Mahindra is a fellow member of Institute of Chartered Accountants of India and Institute of Chartred Accountants in England and Wales. He is also an associate member of Institue 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 firm said.