Nestle India Ltd: Board recommends Final Dividend

Nestle India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 18, 2011, inter alia, has :

1. Recommended a final dividend for 2010 of Rs. 12.50 per equity share, for approval of the shareholders;

2. Proposed for approval of the shareholders at the ensuing Annual General Meeting, increase in the borrowing limits of the Company under Section 293(1)(d) of the Companies Act, 1956 upto a maximum of Rs. 2500 Crores, in aggregate; and taken on record the in-principle approval received from Reserve Bank of India for availing External Commercial Borrowings of upto USD 450 Million over a period of time, in tranches, from the foreign equity holders for the funding of modernization / expansion of existing new projects and sourcing of capital goods; and

3. Convened the fifty second Annual General Meeting of the Company on April 19, 2011.