ITC edges higher; stock trades ex-dividend

ITC is trading higher by 1% at Rs 355 on the National Stock Exchange (NSE) after the stock turned ex-dividend for Rs 8.50 per share on Monday.

The board of directors of ITC at its meeting held on May 20, 2016, recommended dividend of Rs 8.50 (including special dividend of Rs 2) per ordinary share of Re 1 each for the financial year ended March 31, 2016.

“The register of members & share transfer books of the company will remain closed from June 01, 2016 to June 03, 2016 (both days inclusive) for the purpose of payment of dividend & 105th Annual General Meeting (AGM) of the company to be held on July 22, 2016,” ITC said in a statement.

The company had also declared a bonus issue of one share for every two shares held while announcing its March quarter results last week. It will turn ex-bonus on July 1, 2016.

The stock hit a high of Rs 356 and low of Rs 353 on the NSE so far. A combined 513,562 shares changed hands on the counter on the NSE and BSE till 09:28 AM. On Friday, the stock was closed at Rs 359 on the NSE.

ITC Limited