ITC stock trades ~2% lower as it turns ex-dividend

15 Feb 2023 , 01:32 PM

ITC, the index heavyweight and cigarettes-to-hotels major, traded ex-dividend on Wednesday for its interim dividend of Rs6 per share for the fiscal year 2022-23.

ITC has announced an equity dividend of Rs6.25 per share over the last 12 months. This results in a dividend yield of 1.66% at prevailing stock prices.

The behemoth announced that it will pay the interim dividend benefit to eligible shareholders from Friday, March 3, 2023, to Sunday, March 5, 2023. Its board of directors set Wednesday, February 15, 2023, as the record date for determining who is eligible for the corporate reward.

At around 1.05 PM, ITC was trading 1.68% lower at Rs379.95, against the previous close of Rs386.45 on NSE. So far, the counter touched an intraday high and low of Rs382.30 and Rs378.55 respectively.

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