ITC Ltd.

Mkt Cap (Rs Cr)

160,246.92

Face Value (Rs)

Particular
Mar '

Mar '

Year
Mar '

Mar '

Mar '

Net profit / loss

11
4987.61

10
4061.00

09
3263.59

08
3120.10

07
2699.97

(Cr)
EPS (Rs.)
Dividend per

6.45
4.45

10.64
10.00

8.65
3.70

8.28
3.50

7.18
3.10

share (Rs.)
Dividend payout

80.24

109.63

50.06

49.45

50.53

ratio (%)
Earning retention

17.06

-12.31

48.67

47.98

48.75

ratio (%)

Dividendpayout ratio
120
100
80
60

)
(%
g
ta
n
rc
e
P

40
20
0
2006

2007

2008

2009

2010

2011

2012

Year
#Note: In March10, ITC paid dividend at unusual high rate of 1000%. The
reason for paying at such a high rate was that it was a centenary year for the
company. Because of this special occasion company paid its shareholders a
Proposed Dividend for the financial year at the rate of Rs. 4.50 per ordinary
share of Rs. 1/- each plus Proposed Special Centenary Dividend of Rs. 5.50 per

ordinary share of Rs. 1/- each. It resulted in a proposed dividend of Rs. 10 per
ordinary share of Rs. 1/- and thus yielding rate of 1000%.

Hindustan Unilever Ltd.

Mkt Cap (Rs Cr)

82,384.94

Face Value (Rs)

Particular
Mar '

Mar '

Year
Mar '

Net profit / loss

11
2305.97

10
2202.03

09
2496.45

08
2101.47

07
1923.79

(Cr)
EPS (Rs.)
Dividend per

10.68
6.50

10.09
6.50

11.45
7.50

9.64
9.00

8.83
6.00

share (Rs.)
Dividend payout

71.20

75.20

76.47

131.80

81.45

ratio (%)
Earning retention

22.71

21.25

18.50

-39.13

-0.12

Mar '

Mar '

ratio (%)

Dividendpayout ratio
140
120
100
80

)
(%
g
ta
n
rc
e
P

60
40
20
0
2006

2007

2008

2009

2010

2011

2012

Year
# Note: In March09, HUL paid an above average dividend of Rs. 9. HUL paid
an additional Rs. 3 per share as Special Platinum Jubilee Dividend to

commemorate Companys 75th year of operations in the Country resulting in

higher than average payout ratio.

Nestle India Ltd.

Mkt Cap (Rs Cr)

42,569.28

Face Value (Rs)

10

Particular
Mar '

Mar '

Year
Mar '

Net profit / loss

11
961.55

10
818.66

09
655.00

08
534.08

07
160.15

(Cr)
EPS (Rs.)
Dividend per

99.73
48.50

84.91
48.50

67.93
42.50

55.39
33.00

16.61
25.50

share (Rs.)
Dividend payout

66.54

83.52

89.76

89.50

88.97

ratio (%)
Earning retention

34.09

18.15

10.75

11.33

12.50

Mar '

Mar '

ratio (%)

Dividendpayout ratio
100
80
60

ta
n
rc
e
P
)
(%
g

40
20
0
2006

2007

2008

2009

Year

2010

2011

2012

#Note: In March11, Nestle India Ltd did not maintain its dividend payout
ration. Reason stated by the company was that it had to keep in with financial
needs for capital expenditure.

Asian Paints Ltd.

Mkt Cap (Rs Cr)

30,045.47

Face Value (Rs)

10

Particular
Mar '

Mar '

Year
Mar '

Mar '

Mar '

Net profit / loss

11
775.15

10
774.50

09
361.91

08
377.89

07
269.93

(Cr)
EPS (Rs.)
Dividend per

80.81
32.00

80.74
27.00

37.73
17.50

39.40
17.00

28.14
13.00

share (Rs.)
Dividend payout

46.06

39.03

54.19

50.84

52.36

ratio (%)
Earning retention

53.54

54.64

47.00

49.34

46.82

ratio (%)

Dividendpayout ratio
100
80
60

)
(%
g
ta
n
rc
e
P

40
20
0
2006

2007

2008

2009

2010

2011

2012

Year
#Note: Asian Paints Ltd seems financially very stable and it has maintained a
stable dividend policy. It increases its dividend in proportion with profit when
the profit jumps significantly.

Dabur India Ltd.

Mkt Cap (Rs Cr)

18,695.66

Face Value (Rs)

Particular
Mar '

Mar '

Year
Mar '

Mar '

Mar '

Net profit / loss

11
471.43

10
433.15

09
373.56

08
316.77

07
252.08

(Cr)
EPS (Rs.)
Dividend per

2.71
1.15

4.99
2.00

4.32
1.75

3.67
1.50

2.92
1.75

share (Rs.)
Dividend payout

49.42

46.86

47.41

47.86

55.24

ratio (%)
Earning retention

49.40

51.67

50.11

50.87

42.64

ratio (%)

Dividendpayout ratio
100
80
60

)
(%
g
ta
n
rc
e
P

40
20
0
2006

2007

2008

2009

2010

2011

2012

Year
#Note: Dabur India Ltd has maintained a stable dividend policy at an average
of 49.3% dividend payout ratio irrespective of its earnings.

GlaxoSmithKline Pharmaceuticals Ltd.

Mkt Cap (Rs Cr)

17,532.90

Face Value (Rs)

10

Particular
Mar '

Mar '

Year
Mar '

Mar '

Mar '

Net profit / loss

11
430.60

10
563.69

09
512.29

08
576.57

07
537.66

(Cr)
EPS (Rs.)
Dividend per

50.84
40.00

66.55
30.00

60.48
40.00

68.07
36.00

63.48
31.00

share (Rs.)
Dividend payout

69.54

57.43

68.75

66.35

54.88

ratio (%)
Earning retention

33.74

43.87

14.74

13.09

17.90

ratio (%)

Dividendpayout ratio
100
80
60

)
(%
g
ta
n
rc
e
P

40
20
0
2006

2007

2008

2009

2010

2011

2012

Year
#Note: GlaxoSmithKline Pharmaceuticals Ltd has maintained a stable dividend
policy at an average of around 63.3% dividend payout ratio.

Godrej Consumer Products Ltd.

Mkt Cap (Rs Cr)

15,276.07

Face Value (Rs)

Particular
Mar '

Mar '

Year
Mar '

Net profit / loss

11
434.96

10
248.12

09
161.55

08
148.10

07
132.16

(Cr)
EPS (Rs.)
Dividend per

13.44
4.50

8.05
4.25

6.29
4.00

6.56
4.00

5.85
3.75

share (Rs.)
Dividend payout

45.19

59.34

74.58

73.26

79.82

ratio (%)
Earning retention

51.22

40.01

25.64

30.78

18.19

ratio (%)

Mar '

Mar '

Dividendpayout ratio
100
80
60

)
(%
g
ta
n
rc
e
P

40
20
0
2006

2007

2008

2009

2010

2011

2012

Year
#Note: Godrej Consumer Products Ltd Pharmaceuticals Ltd has maintained a
stable dividend at an average of around Rs. 4 per ordinary share.

Colgate-Palmolive (India) Ltd.

Mkt Cap (Rs Cr)

14,048.80

Face Value (Rs)

Particular
Mar '

Mar '

Year
Mar '

Mar '

Mar '

Net profit / loss

11
402.58

10
423.26

09
290.22

08
231.71

07
160.17

(Cr)
EPS (Rs.)
Dividend per

29.60
22.00

31.12
20.00

21.34
15.00

17.04
13.00

1.18
9.50

share (Rs.)
Dividend payout

86.65

75.08

82.05

98.24

92.47

ratio (%)
Earning retention

11.94

22.44

17.50

-4.47

34.60

ratio (%)

Dividendpayout ratio
120
100
80
60

)
(%
g
ta
n
rc
e
P

40
20
0
2006

2007

2008

2009

2010

2011

2012

Year
#Note: Colgate-Palmolive (India) Ltd has a dividend policy which maintains an
average payout ratio of around 86%. To meet its payout ratio it makes
appropriate changes to its dividend per share.

United Breweries Ltd.

Mkt Cap (Rs Cr)

11,985.17

Face Value (Rs)

Particular
Mar '

Mar '

Year
Mar '

Net profit / loss

11
167.98

10
96.97

09
62.50

08
62.47

07
65.09

(Cr)
EPS (Rs.)
Dividend per

6.60
0.60

4.04
0.36

2.60
0.30

2.89
-

3.01
0.25

share (Rs.)
Dividend payout

14.00

12.65

17.57

2.28

10.97

ratio (%)
Earning retention

85.47

84.40

84.91

97.69

88.83

ratio (%)

Mar '

Mar '

Dividendpayout ratio
100
80
60

)
(%
g
ta
n
rc
e
P

40
20
0
2006

2007

2008

2009

2010

2011

2012

Year
#Note: United Breweries Ltd does not put much emphasis on its dividend
figures and it provides very petty dividends.

GlaxoSmithKline Consumer Healthcare Ltd.

Mkt Cap (Rs Cr)

10,924.11

Face Value (Rs)

10

Particular
Mar '

Mar '

Year
Mar '

Net profit / loss

11
355.21

10
299.85

09
232.78

08
188.33

07
162.60

(Cr)
EPS (Rs.)
Dividend per

84.45
50.00

71.29
18.00

55.34
15.00

44.78
12.00

38.62
10.00

share (Rs.)
Dividend payout

81.77

38.04

39.18

36.29

37.77

ratio (%)
Earning retention

19.40

61.64

60.04

63.66

61.87

ratio (%)

Mar '

Mar '

Dividendpayout ratio
100
80
60

)
(%
g
ta
n
rc
e
P

40
20
0
2006

2007

2008

2009

2010

2011

2012

Year
#Note: GlaxoSmithKline Consumer Healthcare Ltd maintains a stable dividend
policy where it maintains around 38% dividend payout ratio but March11 is an
exception because it paid a special dividend of Rs. 25 in excess of proposed
dividend to celebrate the Golden Jubilee of Company.