ITC Dividend: FMCG giant declares ₹7.5 final dividend for FY24, check record date

Diversified consumer goods company ITC Ltd on Thursday, May 23, announced a final dividend of ₹7.5 per share for the financial year 2023-24.

In a filing to the stock exchanges, the company said that its Board of Directors recommended a final dividend of ₹7.5 per share of the face value of ₹1 each for the financial year ended March 31, 2024. This translates to a dividend payout of 750%.

The record date for the payment of dividend has been fixed as June 4. The dividend payment is subject to declaration at the Annual General Meeting (AGM) of the company, which will be held on July 26. If approved, the dividend will be paid between July 29 and July 31, the company informed the bourses.

Earlier, the diversified FMCG player had declared an interim dividend of ₹6.25 per share on January 29. The total dividend payout for FY24 amounts to ₹13.75 per share.

ITC Q4 results

ITC’s consolidated revenue from operations for the quarter ended March dropped marginally by 0.19% to ₹19,446.49 crore compared to ₹19,484.5 crore in the corresponding quarter of the preceding fiscal. Sequentially, the company’s revenue from operations for the March quarter grew 2% from ₹19,058.29 crore in the quarter ended December. The company’s revenue from operations for the entire FY24 grew 0.42% to ₹76,840.49 crore compared to ₹76,518.21 crore in FY23.

ITC’s net profit for the March quarter declined nearly 4% to ₹5,190.71 crore against ₹5,406.52 crore on a year-on-year basis. Sequentially the company’s net profit fell nearly 1% from ₹5,242.59 crore in the December quarter.

The company’s net profit for FY24 grew by 6.5% to ₹20,751.36 crore against ₹19,476.72 crore in the preceding fiscal.

Shares of ITC Ltd closed at ₹440.2 apiece, up by 0.07%, on the NSE on May 23.