ITC slips ex-dividend

ITC fell 1.22% to Rs 333.25 at 9:29 IST on BSE after turning ex-dividend for a dividend of Rs 6 per share for the financial year ended 31 March 2014.

Meanwhile, the BSE Sensex was up 82.05 points, or 0.33%, to 24,766.90.

On BSE, so far 80,000 shares were traded in the counter, compared with an average volume of 5.43 lakh shares in the past one quarter.

The stock hit a high of Rs 336.85 and a low of Rs 332 so far during the day. The stock hit a record high of Rs 386.75 on 16 May 2014. The stock hit a 52-week low of Rs 285.40 on 28 August 2013.

The stock had underperformed the market over the past one month till 2 June 2014, falling 0.82% compared with 10.18% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 3.01% as against Sensex's 16.88% rise.

The large-cap company has an equity capital of Rs 795.32 crore. Face value per share is Rs 1.

Before turning ex-dividend, the stock offered a dividend yield of 1.78% based on the closing price of Rs 337.35 on Monday, 2 June 2014.

ITC's net profit rose 18.16% to Rs 2278.01 crore on 11.68% increase in total income to Rs 9505.23 crore in Q4 March 2014 over Q4 March 2013.

ITC has a diversified presence in cigarettes, hotels, paperboards & specialty papers, packaging, agri-business, packaged foods & confectionery, information technology, branded apparel, personal care, stationery and other FMCG products. ITC is a market leader in cigarettes.

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