ITC Announces Interim Dividend for FY23: Amount, Record, Payment Dates?

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ITC Announces Interim Dividend for FY23: Amount, Record, Payment Dates?
Credit: © Reuters.

By Malvika Gurung -- The cigarettes-to-hotels conglomerate ITC (NS: ITC ) announced an interim dividend for the current financial year 2022-23 on Friday, while releasing its earnings for the December-ended quarter.

The Board of Directors of the diversified conglomerate giant declared an Interim Dividend of Rs 6 per ordinary share of the company having a face value of Re 1 each for the fiscal year ending on March 31, 2023.

The market behemoth’s Board has announced to pay the interim dividend benefit to eligible shareholders of the company from Friday, March 3, 2023, to Sunday, March 5.

The company’s Board has also fixed the record date for determining the members eligible for the corporate reward as Wednesday, Feb 15, 2023.

In the past one year, the cigarettes major has declared an aggregate equity dividend of Rs 11.5/share.

ITC posted a net profit of Rs 5,031 crore in the December quarter, up 21% YoY, and a marginally 2.3% higher revenue from operations of Rs 16,226 crore. However, its EBITDA surged 25% YoY to Rs 5,183.5 crore, and the operating margin jumped by a whopping 574 bps in Q3 FY23 to 31.95% due to price hikes and an improved mix.

On Thursday, the mega-cap giant hit an all-time high of Rs 384.7 apiece, in response to the finance minister’s Budget 2023 announcement of raising customs duty on cigarettes by 16%.

Read More: Here’s Why ITC Hit a New Life High on Feb 2

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