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Business News/ Markets / Stock Markets/  ITC shares to trade ex-dividend on May 30. Do you own any?

The shares of cigarettes to hotels conglomerate ITC Ltd on Tuesday will trade ex-dividend. ITC shares hit a record high on Monday as the stock gained nearly 2 per cent to hit a fresh 52-week high of 451.75 apiece on BSE before closing at 449.10 per share.

ITC declared a final dividend of 6.75 per share and a special dividend of 2.75 per share of Re 1 each for the quarter ended March 2023 .

The conglomerate fixed the record date for the dividend as Tuesday, May 30, 2023, and the dividend shall be paid to entitled shareholders of the company on or before 17 August 2023.

ITC had declared an interim dividend of 6 in February 2023, thus taking the total dividend for the financial year ended 31 March, 2023 to Rs15.50 per ordinary share of 1 each.

FMCG major ITC Ltd reported an 22.7 per cent year-on-year rise in its consolidated net profit to 5,225.02 crore for the quarter ended March 2023 (Q4FY23) . The cigarette maker had reported a profit of 4259.68 crore in the year-ago period.

Revenue from operations (excluding excise duty) for the company went up 5.6 percent YoY to 16,398 crore from 15,531 crore in the year-ago period. Both topline and bottomline beat analysts' estimates.

The company's consolidated total income for the quarter under review stood at 19,667.94 crore from 18,252.64 crore in the year ago period.

Following the results, ITC shares rallied to hit an all-time high on Monday. The stock has gained nearly 35 per cent so far this year after gaining over 66 percent in 2022.

On Monday, the shares of ITC closed at 451.75 apiece on BSE

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Updated: 30 May 2023, 08:54 AM IST
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