Marico eyes second interim dividend for FY24

20 Feb 2024 , 02:28 AM

As the company considers paying out a second interim dividend on February 27 for the fiscal year 2023–2024, Marico’s shares increased by more than 1% to ₹534 on February 20.

Compared to a 5% decrease in the Nifty FMCG index, the stock has been down 3% so far this year. Marico shares peaked on October 3, 2023, at ₹595.

The company’s board of directors resolved to call a meeting on February 27 to discuss a proposal for a second interim dividend, if any, for 2023–2024 in an exchange filing on February 19. ‘In the event of second interim dividend, the record date shall be March 6, 2024,’ noted management.

In addition, Marico introduced four new flavors—Nutty Chocolate, Apple ‘n’ Almonds, Spicy Mexicana, and Cheesy Italia—under its Oats line.

With the launch of Saffola’s new Gourmet Flavours, we aim to meet the demands of contemporary consumers who are always looking for convenient, healthful options without sacrificing flavour or appeal. Vaibhav Bhanchawat, chief operating officer for Marico’s India & foods business, stated, ‘Our commitment to providing wholesome and flavorful options remains steadfast, ensuring that consumers across age groups can savour the delicacies of Oats on all sorts of occasions.’

In addition, Marico offers the following brands: Livon, Just Herbs, Beardo, Plix, Revive, Set Wet, Nihar Naturals, Mediker, Pure Sense, Coco Soul, Port Parachute, Saffola FITTIFY Gourmet, Saffola ImmuniVeda, Saffola Mealmaker, Hair & Care, Parachute Advansed, and Plix.

For feedback and suggestions, write to us at [e-mail]