ITC Declares Interim Dividend Of Rs 6.5 Per Share
ITC Ltd. has declared an interim dividend of Rs 6.5 per equity share having a face value of Rs 10 each for the financial year ending March 31, 2025.
The record date to determine the shareholders eligible for the dividend payout has been fixed as Feb. 12. The dividend will be paid in the time period between March 6 and March 8, according to an exchange filing on Thursday.
The interim dividend announcement from ITC came on the day it announced the standalone financial results for the quarter ended Dec. 31, 2024. The company posted a 1.18% year-on-year increase in its consolidated net profit to Rs 5,638.25 crore, compared to Rs 5,572.07 crore in the year-ago period.
The standalone revenue rose 8.45% year-on-year to Rs 18,290.24 crore, as compared to Rs 16,864.34 crore in the year-ago quarter.
The firm also saw an exceptional item of Rs 12.18 crore and tax expense of Rs 72.43 crore from discontinued operations.
Shares of ITC Ltd. fell as much as 1.57% during the day to Rs 441.10 apiece on the National Stock Exchange. It closed 0.41% higher at Rs 450 per share, compared to a 0.39% decline in the benchmark Nifty. The share price has risen 8.08% on a year-to-date basis.
34 out of the 40 analysts tracking the company have a 'buy' rating on the stock, four suggest 'hold', and two suggest a 'sell' rating, according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 16.3%.
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