News: ITC Ltd., a distinguished corporation, has unveiled the dividend record date for 2024. On February 8, 2024, the company will identify the eligible shareholders entitled to receive the Interim Dividend. This dividend is fixed at 625%, equivalent to Rs. 6.25 per share. Shareholders are urged to mark the record date to confirm their eligibility for the dividends relative to their shareholdings.
Significance of the Record Date
The record date serves as a crucial juncture in the dividend distribution process, facilitating the identification of deserving recipients for dividend payouts. Shareholders holding ITC Ltd.’s stock on or before the specified record date will qualify for the declared dividends. This date assumes pivotal importance in determining which investors stand to gain from the Interim Dividend declaration made on January 29, 2024.
Payment of the Dividend
Dividend disbursement is scheduled between February 26 and February 28, 2024. Shareholders meeting the criteria set on the record date will receive their dividends within this designated timeframe. The payment date signifies the final stage of the dividend distribution process, and eligible recipients can anticipate receiving their dividends as per the specified timeline.
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Financial Performance and Stock Stability
During the December quarter, ITC Ltd. has demonstrated a notable surge in standalone profit after tax and revenue from operations year-on-year, reflecting a strong financial performance. This positive development bolsters investor confidence in the company’s stock. Despite apprehensions surrounding weak volumes, the resilience of ITC Ltd.’s stock performance is evident. Moreover, the recent declaration of an interim dividend of Rs. 6.25 per share underscores the company’s steadfast commitment to sustaining a consistent dividend payout.
Evaluation of ITC Ltd.’s Stock
Although the year-to-date and long-term stock trends may lack clarity, the stock price has exhibited stability, fluctuating within a daily range of ₹439.50 to ₹443.65. When contemplating investment in ITC Ltd., investors should meticulously assess the company’s strategic diversification and factor in the influence of market sentiment on short-term fluctuations.
Financial Performance in September 2023
In the quarterly period ending September 2023, ITC Ltd. has demonstrated positive year-on-year changes in several key metrics. Revenue witnessed a growth of 3.90%, while operating expenses increased by 4.01%. Net income surged by 6.02%, accompanied by a notable improvement in the net profit margin, which rose by 2.07%. Additionally, earnings per share (EPS) experienced a substantial uptick of 9.72%. These financial indicators collectively underscore the company’s robust performance during this period.
FAQs
1. What is the dividend record date for ITC Ltd. in 2024?
The dividend record date for ITC Ltd. in 2024 is February 8, 2024.
2. How much is the dividend amount per share?
The dividend amount per share is Rs. 6.25.
3. When will eligible shareholders receive the dividend?
Eligible shareholders will receive the dividend between February 26 and February 28, 2024.
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