Unilever India to Return Cash as Growth Hits 10-Year Low
- Hindustan Unilever to give back $324 million to shareholders
- Company's net income falls 22% in quarter ended Dec. 31
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Hindustan Unilever Ltd. plans to return 21.9 billion rupees ($324 million) to shareholders, signaling a lack of investment options at India’s largest consumer goods company, as revenue from selling shampoos, soaps and detergents grew at the slowest pace in more than 10 years.
Local sales of Dove soaps, Surf detergents and Fair & Lovely skin cream grew 3.3 percent in the three months ended Dec. 31, India’s largest consumer goods maker, said on Friday. That’s the slowest growth since at least 2005, according to company filings. Net income fell 22 percent in the quarter, according to the filings.