Marico gains on plans to review a second interim dividend for FY24 on Feb 27

In the event of second interim dividend, the record date shall be March 6, 2024, said the management

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Shares of Marico gained over 1 percent to Rs 534 on February 20 as the company weighs a second interim dividend on February 27 for fiscal 2023-24.

The stock has declined 3 percent so far this year, as against a 5 percent drop in Nifty FMCG index. Marico shares have hit a 52-week high of Rs 595 on October 3, 2023 and a 52-week low of Rs 464 apiece on April 20, 2023.

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In an exchange filing on February 19, the board of directors of the company decided to schedule a meeting on February 27 to consider a proposal of second interim dividend, if any, for 2023-24. “In the event of second interim dividend, the record date shall be March 6, 2024,” the management said.

Apart from that, Marico also launched four new flavours under its Oats range – Nutty Chocolate, Apple ‘n’ Almonds, Spicy Mexicana, and Cheesy Italia.

Also read: Buy Marico; target of Rs 605: Sharekhan

“With the introduction of Saffola’s new Gourmet Flavours, we hope to satisfy the needs of modern consumers who constantly seek healthy convenience without compromising on flavour and taste. Our commitment to offering wholesome and flavourful options remains steadfast, ensuring that consumers across age groups can savour the delicacies of Oats on all sorts of occasions,” said Vaibhav Bhanchawat, chief operating officer for India and foods business at Marico.

Other than this, Marico’s brand portfolio also extends to  port Parachute, Saffola FITTIFY Gourmet, Saffola ImmuniVeda, Saffola Mealmaker, Hair & Care, Parachute Advansed, Nihar Naturals, Mediker, Pure Sense, Coco Soul, Revive, Set Wet, Livon, Just Herbs, True Elements, Beardo and Plix.

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