ITC announces final dividend of Rs 7.50 per share. Check record date
board of the FMCG major ITC declared a final dividend of Rs 7.5 per share along with a Q4 profit of Rs 5,120 crore, which missed estimates.
The record date for determining the eligible shareholders has been fixed at June 4, while the dividend will be paid between July 29-31.
“The Board at the meeting has also recommended a Final Dividend of Rs 7.50 per Ordinary Share of 1/- each for the financial year ended 31st March 2024, subject to a declaration of the same by the Members at the ensuing 113th Annual General Meeting ('AGM') of the Company convened for Friday, 26th July 2024; the Final Dividend, if declared, will be paid between Monday, 29th July 2024 and Wednesday, 31st July 2024 to those Members entitled thereto,” ITC said in a filing to the exchanges.
Together with the interim dividend of Rs 6.25 per share declared by the board in January, the total dividend for the financial year will be Rs 13.75 per share.
Also read: ITC Q4 Results: Profit falls marginally to Rs 5,120 crore, misses estimates
ITC reported that their revenue from operations increased 2% year-on-year (YoY) to Rs 19,446 crore in the January-March 2024 period, compared with Rs 19,058 crore in the corresponding period of the previous year.
Shares of ITC have increased 14% in the last 6 months while in the last 1 year, the stock has gained 21.5% on charts.
Technically, the stock price is performing well above all its exponential moving averages with a mid-range RSI level of 57.7 as per Trendlyne data.
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