ITC FY24 dividend payout at Rs 17,163 crore! Dividend history, record date & more

The ITC Ltd board on Thursday announced a final dividend of Rs 7.50 per share for FY24. This, along with the interim dividend of Rs 6.25 per share announced on January 29, meant the FMCG major declared a total dividend of Rs 13.75 per share for the previous financial year. In value terms, ITC paid a total dividend of Rs 17,162.99 crore for FY24. This included Rs 7,799.45 crore dividend it paid in February 2024.

In FY23, ITC announced a final dividend of Rs 6.75 per share and an interim dividend of Rs 6 per share. Besides, it also announced a special dividend of Rs 2.75 per share in FY23.

"The record date fixed for the purpose of determining entitlement of the members for the final dividend is Tuesday, 4th June, 2024 and such dividend, if declared, will be paid between Monday, 29th July, 2024 and Wednesday, 31st July, 2024 to those Members entitled thereto," ITC said.

ITC reported a standalone net profit of Rs 5,020.20 crore for the March quarter, down 1.3 per cent year-on-year (YoY. The cigarette maker had reported a net profit of Rs 5,086.86 in the year ago period. On a sequential basis, the bottomline was marginally flat from Rs 5,572.07 in the December quarter.

"ITC’s overall performance was marginal miss on expectation. However, the core cigarette business and FMCG business performed well. The company has declared final dividend of Rs. 7.5 per share (total dividend of Rs. 13.75 per share; dividend yield of 3%). We shall review our estimates and come out with a detailed note post interaction with management. Currently we have a Buy rating on the stock," Sharekhan.

(More to come)