ITC dividend payment date, ex-date, record date, dividend history & share price targets

ITC Ltd is all set to turn ex-date for final dividend on Wednesday. May 27 is also the record date for identifying the eligible shareholders, who would be entitled for the final dividend of FY27. The actual dividend will be paid on July 29, data available with stock exchanges BSE and NSE suggested. The Kolkata-based FMCG major had earlier declared a final dividend of Rs 8 per share. This is in addition to an interim dividend per share (DPS) of Rs 6.50 that ITC announced earlier, taking its total dividend payout for the year to Rs 14.50 per share. 

ITC dividend history
The cigarette maker had declared a total dividend of Rs 14.35 for FY25, amounting to Rs 8,133.11 crore. Dividend yield for ITC stood in the range of 3.2-5.9 per cent since FY20. ITC declared Rs 7,799.45 crore in dividends for FY24, translating into Rs 13.75 per share payout. For FY23, ITC declared total dividend of Rs 15.50 per share or Rs 7,448.41 crore. Dividend payouts in FY22 and FY21 stood at Rs 6,469.48 crore and Rs 6,152.68 crore, respectively. 

ITC Q4 results
ITC had reported a steady March quarter performance, with resilient cigarette growth and margin expansion aiding profitability, despite muted revenue growth in the agri and paper segments. Overall the earnings was steady in a challenging macroeconomic environment, Nirmal Bang Institutional Equities noted.

ITC share price targets
Nirmal Bang on May 25 said ITC delivered resilient performance despite a challenging macroeconomic environment. 

ITC, it said, continued to respond with speed as well as agility and has taken several steps in the past couple of months to fortify its portfolio and sustain market standing. 

"We maintain our HOLD rating on the stock. We continue to value the company at a P/E multiple of 19 times FY28E EPS (compared with the 5-year average multiple of 23.5 times), resulting in a target of Rs 340 (Rs 305 earlier)," it said. 

Considering the recent tax hikes in the cigarette business along
with inflationary pressures arising from geopolitical tensions, energy shocks, and supply-side disruptions, Axis Direct has revised lower its FY27 and FY28 estimates for ITC, but remained positive on medium to long-term growth. It suggested a target of Rs 325 on the stock against Rs 340 per share earlier.

BOB Capital said ITC’s continued focus on premiumisation, digital-first brands, value-added agri products and expansion across FMCG categories is likely to support long-term growth. It maintained 'Buy' on the stock with a target Rs 355.