By Malvika Gurung
Investing.com -- The cigarettes-to-hotels conglomerate ITC (NS: ITC ) will remain under focus this week as its shares will turn ex-dividend for the financial year ended March 31, 2023.
According to Investing.com's ‘Dividend Calendar’, the market heavyweight is set to turn ex-dividend on Tuesday, May 30, 2023.
The Board of Directors of the diversified conglomerate giant had recommended a final dividend of Rs 6.75/share and a special dividend of Rs 2.75/share of Re 1 each for the financial year 2022-23.
The record date for the said dividend for determining eligible shareholders of the company has been fixed as Tuesday, May 30, 2023.
ITC is India’s sixth most-valued company in terms of market capitalization. It has stated that the dividend will be paid to eligible shareholders between August 14, 2023, and August 17, 2023.
For the full financial year 2022-23, ITC declared an interim dividend of Rs 6/share on Feb 3, 2023, and in addition to the aforementioned dividend, the conglomerate’s total dividend in FY23 stands at Rs 15.5/share of Re 1 each.
This is higher than the company’s total dividend of Rs 11.5/share declared in the previous year FY22.
ITC said that its total cash outflow on account of Dividends will be Rs 19,255.02 crores.
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