ITC Tops Nifty, Sensex Packs on Ex-Dividend Day, Extends Bull Ride

By Malvika Gurung

Investing.com -- The conglomerate giant ITC 's (NS: ITC ) shares turned ex-dividend on Tuesday and gained 3.22% in the intraday trade to Rs 450.55 apiece, nearing the 52-week high of Rs 451.8 apiece.

It is the top-performing stock on benchmark indices Nifty50 and Sensex and is trading strong in a flat market.

ITC’s shares extended their rising streak for the eighth consecutive session on Tuesday, adding 7.33% during this period. The stock has gained for eight days in the past ten trading sessions.

The market heavyweight stock has been on a bull ride since the start of this year, as it has surged more than one-third in value so far during the ongoing calendar year 2023. In the past one year, ITC has given returns of 67.2% to its investors.

The cigarettes-to-hotels conglomerate’s Board of Directors 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, with the record date for this set as May 30, 2023.

ITC is India’s sixth most-valued company in terms of market capitalization. It declared a total dividend of Rs 15.5/share in FY23, higher than the previous year’s dividend of Rs 11.5/share.