ITC dividend 2024: Shares of the FMCG giant, ITC, are approaching their ex-dividend date. The company, along with its financial results for the fourth quarter and fiscal year FY24, has announced a dividend reward of 750 per cent per share for its shareholders. ITC is one of India’s foremost private sector companies and a diversified conglomerate with businesses spanning Fast Moving Consumer Goods, Hotels, Paperboards and Packaging, Agri Business, and Information Technology.
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ITC Dividend Announcement 2024
ITC has announced its board has recommended a final dividend of Rs 7.50 apiece for FY24. The said dividend declaration, however, remains subject to the approval of members at the ensuing 113th Annual General Meeting of the company.
“…The Board has recommended a Final Dividend of Rs 7.50 per Ordinary Share of Rs 1/- each for the financial year ended 31st March, 2024, subject to declaration of the same by the Members at the ensuing 113th Annual General Meeting (‘AGM’) of the Company convened for Friday, 26th July, 2024,” said ITC in a regulatory filing on the BSE.
If approved, together with the interim dividend of Rs 6.25 per ordinary share declared by the Board on January 29, 2024, the total dividend for the financial year ended March 31, 2024, would be Rs 13.75 per ordinary share.
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ITC Dividend Record Date
ITC has fixed Tuesday, June 4, 2024, as the Record Date for the purpose of determining entitlement of the Members for payment of Final Dividend. The company has further said that the final dividend, if declared, will be paid between Monday, July 29, 2024, and Wednesday, July 31, 2024, to those Members entitled thereto.
Shares of ITC will trade ex-dividend date on Tuesday, June 4, 2024.
ITC Q4 2024 Results
ITC, in the fourth quarter of FY24, witnessed a decline in its consolidated net profit at Rs 5,190.71 crore as against Rs 5,242.59 crore reported in the corresponding quarter of FY23, ITC said in a regulatory filing. The company’s revenue from operations in the quarter under review stood at Rs 19,446.49 crore, up 2 percent from Rs 19,058.29 crore reported in the same period of the previous fiscal.
ITC Dividend Yield
At the current market price, ITC stock has a dividend yield of 3.23 per cent.
ITC Dividend History
The diversified FMCG company has a rich history of paying dividends to its shareholders. BSE data reflects that ITC has paid an interim dividend of Rs 6 and a final dividend of Rs 6.75 in 2023 and a special dividend of Rs 2.75 to its shareholders.
