ITC shares dip and ex-dividend trading starts today

ITC Ltd shares were trading 0.7 percent lower at 264 apiece on the BSE in early trade on Thursday, as the stock started trading ex-dividend. FMCG conglomerate has set Saturday, May 28, 2022 as the record Date for determining Members’ entitlement to final dividend payment.

ITC Ltd shares were trading 0.7 percent lower at 264 apiece on the BSE in early trade on Thursday, as the stock started trading ex-dividend, ahead of the record date for its recommended dividend for the fiscal year 2021-22.

The FMCG conglomerate has set Saturday, May 28, 2022 as the record Date for determining Members’ entitlement to final dividend payment. For stocks, the ex-dividend date is usually one business day before the record date.

Along with the release of its Q4FY22 earnings, ITC announced that its board of directors has recommended a final dividend of 6.25 per ordinary share of Re 1 each for FY22. Moreover, the total dividend for the fiscal year ended 2021-22 is 11.50 per share. Including the interim dividend of 5.25 per share paid on March 4, 2022.

The dividend is subject to declaration by the Members. At the company’s 111th Annual General Meeting (AGM) on Wednesday, July 20, 2022. Also if declared, the final dividend will be paid to those Members. Who are entitled to it between Friday, July 22nd, 2022 and Tuesday, July 26th, 2022.

ITC jumps in Net Profits

The FMCG major increased its net profit by 12% to 4,195 crore in the January-March period. Up from 3,755 crore the previous year. The revenue from operations of the Kolkata-based company increased by 15% to 17,754 crore. Up from 15,404 crore the previous year.

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