In a board meeting held on January 29, 2024, diversified FMCG company ITC announced its interim dividend for the financial year 2023-24 along with the unaudited financial results for the quarter and nine months ending December 31, 2023. The interim dividend, set at Rs 6.25 per ordinary share of Rs 1/- each, is scheduled to be paid between Monday, February 26, 2024, and February 28, 2024.
The record date for entitlement to the interim dividend has been fixed as February 08, 2024. ITC’s dividend history reveals that last year, the company declared a final dividend of Rs 6.75 per share with an ex-date and record date of May 30, 2023. Additionally, a special dividend of Rs 2.75 per share was announced with the same ex-date and record date.
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In the third quarter of fiscal year 2024, ITC reported a flat growth in revenue at Rs 17,651 crore compared to Rs 17,705 crore in the preceding quarter. However, the net profit witnessed a notable 13% increase, reaching Rs 5,572 crore for the quarter ended December 31, 2023.
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The current dividend yield for ITC stands at 2.97%, with a quarterly dividend amounting to Rs 3.25 per share. As of February 5, the closing market price for ITC shares was Rs 438.15, reflecting a slight decline of 0.44%. Over the last six months, ITC shares have experienced a 3.70% decline.
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In terms of stock performance, ITC shares have demonstrated positive returns across multiple time frames. Over the past month, the stock has dipped 7.33%. The last six months have seen even more downfall, with a decrease of 5.79%, indicating a strong down trend.
Year-to-date, ITC shares have plunged by 7.83%, reinforcing the stock’s negative momentum in the current fiscal year. Looking at the broader picture, the stock has delivered an impressive return of over 15.98% in the last twelve months.
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