ITC's stock up by more than 3% today

14 Feb 2023 , 01:34 AM

ITC’s stock was trading around 3% higher in Tuesday’s afternoon session as the index heavyweight is to be traded ex-dividend on Wednesday.

For the fiscal year 2022-23, ITC has declared an interim dividend of Rs6 per share. ITC has declared an equity dividend of Rs6.25 per share in the last 12 months. This results in a dividend yield of 1.66% at current stock prices.

When a company’s stock goes ex-dividend on a specific date, it does not carry the value of the next dividend payment. An ex-dividend date is usually set one or two days before the record date.

The cigarette-to-hotel conglomerate reported a 21% year-on-year (yoy) increase in net profit to Rs5,031 crore for the quarter ended December. Revenue from operations, net of excise duty, increased by only 2.3% yoy to Rs16,226 crore, falling short of estimates of Rs16,810 crore.

At around 1.29 PM, ITC was trading 3.03% higher at Rs385.55, against the previous close of Rs374.20 on NSE. The counter touched an intraday high and low of Rs385.80 and Rs373.75 respectively.

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