ITC has announced a substantial 650% interim dividend of Rs 6.50 per share for the financial year 2024-25, with payouts expected between March 6 and 8, 2025. Investors must have held ITC shares before the record date of February 12, 2025, to qualify. The company has a strong dividend history, paying Rs 7.50 and Rs 6.25 per share in 2024 and a mixed payout in 2023. ITC’s stock has faced challenges, dropping 21% in six months, despite a recent minor gain of 2%. A notable recent transaction saw Wells Fargo sell 26.55 lakh shares at Rs 401.60 each.
ITC is rewarding its shareholders once again with a substantial 650% dividend payout. If you held ITC shares as of the record date, expect a cash reward coming your way shortly. Here’s everything that investors need to know regarding the dividend, stock performance, and recent market developments.
Significant payout: What to expect and when?
ITC has declared an interim dividend of Rs 6.50 per share for the financial year 2024-25. Shareholders can anticipate receiving this payout between March 6 and March 8, 2025.
“The Interim Dividend of Rs 6.50 per Ordinary Share of Rs 1/- each for the financial year ending on 31st March, 2025 has been declared; this Dividend will be distributed between Thursday, 6th March, 2025 and Saturday, 8th March, 2025 to the eligible Members of the Company,” stated the company in an exchange filing on February 6, 2025.
ITC Dividend: Are you qualified? Verify the record date
To be eligible for the dividend, investors had to possess ITC shares prior to the record date, which is February 12, 2025. Shares purchased after this date do not qualify for this payout.
ITC’s history of dividends
ITC has a consistent history of rewarding its shareholders with regular dividends. In 2024, the company issued a final dividend of Rs 7.50 per share along with an interim dividend of Rs 6.25 per share. In 2023, it provided a final dividend of Rs 6.75 per share along with a special dividend of Rs 2.75 per share. The most substantial dividend payout in recent years occurred in 2020, when ITC declared Rs 10.15 per share.
Current status of ITC stock
Despite the optimistic dividend announcement, ITC’s stock performance has faced challenges in recent months.
Over the past five days, the stock has seen a 2% increase; however, it has decreased by 6% over the last month and fallen 21% in the last six months. Year-to-date, ITC shares have dropped by 16%.
Nonetheless, the company remains one of India’s largest FMCG entities, holding a market capitalization of Rs 5.06 lakh crore. The stock reached a 52-week high of Rs 528.50 and a low of Rs 391.20.
ITC share price under scrutiny following significant institutional sell-off
In a recent block transaction, Wells Fargo Emerging Markets Equity CIT sold 26.55 lakh shares of ITC at Rs 401.60 per share, amounting to Rs 106.62 crore, with SEI Trust Company as the buyer.