Rs 7.50 Dividend Approved: FMCG ITC Declares Marginal Fall In Net Profit

Large cap diversified FMCG sector company ITC Ltd on Thursday declared a decline of 1% in its consolidated net profit to Rs 5120.55 crore for the quarter ended March 31, 2024 as against Rs 5,175.48 crore declared in the corresponding quarter of last year. Its revenue from operations soared 2% year-on-year (YoY) to Rs 19,446.49 crore for March 2024 quarter as compared to Rs 19,058.29 crore announced in the similar quarter of last year.

Board of Directors of ITC recommended a final dividend of Rs 7.50 per ordinary share of Re 1 each for the financial year ended March 31, 2024. Current market price of ITC share on BSE is Rs 440.00 per share with intraday gain of 0.06%. More details below:

ITC Recommends Final Dividend: As per the BSE filing of the FMCG giant dated May 23, 2024, "recommended Final Dividend of Rs 7.50 per Ordinary Share of Re 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; the Final Dividend, if declared, will be paid between Monday, 29th July, 2024 and Wednesday, 31st July, 2024 to those Members entitled thereto."

Together with the Interim Dividend of Rs 6.25 per Ordinary Share declared by the Board on 29th January, 2024, the total Dividend for the financial year ended 31st March, 2024 would be Rs 13. 75 per Ordinary Share of Re 1 /- each, added the regulatory filing.

ITC Fixes Record Date For Final Dividend: The BSE filing said, "fixed Tuesday, 4 th June, 2024 as the Record Date for the purpose of determining entitlement of the Members for payment of Final Dividend referred to in (a) above."

ITC Q4: The large cap company declared its consolidated total income for March 2024 quarter at Rs 20,130.32 crore as compared to Rs 19,667.94 crore in the corresponding quarter of last year. Total expenses for the quarter ended March 2024 declared at Rs 13,294.30 crore as compared to Rs 12,907.84 crore announced in the similar quarter of last year. The EPS for March 2024 came at 4.10 from 4.17 declared in March 2023.

ITC Share Performance: The 52-week high price of ITC Ltd share on BSE is Rs 499.60 per share (as on 24/07/2023) and 52-week low price is Rs 399.30 per share (as on 12/03/2024), respectively. Its market capitalisation stood at Rs 5,46,830.80 crore. The company has PE of 26.67 and ROE of 30.47. ITC share surged 1.72% in last 1-week, gained 3.16% in last 2-weeks, and jumped over 6% in last 3-months. ITC shares tumbled over 6% year-to-date, surged over 2% in last 1-year, and gave 109% in last 3-years.

ITC Dividend History: ITC Ltd announced 29 dividends since July 3, 2001. In last 1-year, ITC announced an equity dividend amounting to Rs 15.75 per share. At the current share price of Rs 437.90, ITC Ltd offers a dividend yield of 3.59%.
ITC Bonus Share History: ITC Ltd announced so far 3 bonuses since September 21, 2005. The last Bonus that ITC Ltd. declared was in the ratio 1:2 with ex-date fixed as July 1, 2016.

ITC Stock Split History: ITC split the face value of its share once since September 21, 2005. ITC Ltd last split the face value of its shares from Rs 10 to Re 1 in 2005.The share traded ex-split from September 21, 2005.

ITC About: ITC is one of India's foremost private sector companies. ITC has a diversified presence in FMCG, Hotels, Packaging, Paperboards & Specialty Papers and Agri-Business. ITC's aspiration to be an exemplar in sustainability practices is manifest in its status as the only company in the world, of its size and diversity, to be carbon, water and solid waste recycling positive. In addition, ITC's businesses and value chains create sustainable livelihoods for more than 6 million people, a majority of whom represent the poorest in rural India, according to its official website.