Hindustan Unilever Limited (HUL) on Thursday declared a final dividend of Rs 22 per share for the financial year ending March 2023, representing a payout ratio of 2,200% given the par value of Re 1 per share. The latest dividend brings the company’s total dividend for the year to Rs 39 per share.

The FMCG giant, whose well-known brands include Dove, Pond’s, Knorr, Surf, Rin and Vaseline, declared an interim dividend of Rs 17 per share on November 17, 2022.

The company posted a net profit of Rs 2,552 crore for the quarter ended March 2023, in line with analysts’ expectations.

On April 27, 2023, FMCG giant Hindustan Unilever declared a final dividend of Rs 22 per share alongside its March quarter earnings (Q4FY23). The company posted a net profit of Rs 2,552 crore for the quarter, up 10% year-on-year. Total sales for the quarter stood at Rs 14,638 crore, up 11% year-on-year.

EBITDA for the quarter stood at Rs 3,471 crore, up 7% year-on-year, while the EBITDA margin was 23.7%, down 90 basis points year-on-year.

Exceptional items in the March quarter included restructuring charges of Rs 27 crore (MQ22: Rs 58 crore), acquisition and disposal-related costs of Rs 26 crore (MQ22: Rs 21 crore), profit on sale of remaining property was Rs 73 crore (MQ 22: Rs 137 crore, profit on sale of brand rights Rs 60 crore).

CEO and MD Sanjiv Mehta commented on the results: “Amid a challenging environment of geopolitical uncertainty, high commodity inflation and tepid market growth, I am pleased that we have achieved another strong and Resilient performance. Despite the volume decline in the FMCG segment, we added mid-single-digit volume growth at Rs 8,000 crore in revenue for the fiscal year. We continue to transform our portfolio and build unique capabilities, and steady progress has been made on future-proofing the business.