Akzo Nobel Declares Record Rs 70 Per Share Dividend As Q2 Profit Climbs 4%

Akzo Nobel India, a leading paints and coatings manufacturer, has declared an interim dividend of Rs 70 per share in its latest earnings report for the September quarter—the highest quarterly payout on record, according to data available on the Bombay Stock Exchange (BSE) since 2000. This interim dividend for the 2024-25 financial year is scheduled for distribution within 30 days.

The record date for shareholders eligible to receive this dividend is set for 15 November 2024. Shareholders on record as of that date will be entitled to the payout. This dividend follows a Rs 25 per share final dividend revealed in July and an interim dividend of Rs 50 per share disclosed in February 2024.

For the September quarter, Akzo Nobel reported a 4 per cent increase in net profit to Rs 98 crore, up from Rs 94 crore in the same period last year, supported by EBIT growth. Revenue for the quarter rose by 3 per cent, reaching Rs 982 crore compared to Rs 956 crore year-on-year, with growth in topline performance despite subdued retail demand and consistent B2B sales.

The company’s Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA) showed a low single-digit increase to Rs 146 crore, while margins improved slightly to 14.9 per cent. Akzo Nobel also recorded double-digit volume growth during the quarter.

Following the earnings update, shares of Akzo Nobel India were trading at Rs 4,188.85 on Thursday, down by 0.84 per cent. The stock has shown robust performance, surging over 60 per cent on a year-to-date basis.