ITC slips as stock quoted ex-dividend

Shares of ITC were down nearly 3% after the stock was quoted ex-dividend from today.

The board of directors, at its meeting held on May 17, had proposed a dividend of Rs 5.25 per equity share of face value Rs 1/-each.

The non-cigarette fast-moving consumer goods (FMCG) segment of ITC has recorded its maiden profit, helping the cigarette-to-hotel major post 19.4 per cent increase in net profit in the fourth quarter of 2012-13.

Price increases in cigarettes and the performance in the non-cigarette FMCG segment helped the company post pre-tax profit of Rs 2,729.34 crore and post-tax profit of Rs 1,927.98 crore — growth of 20.3 per cent and 19.4 per cent, respectively, over the same period last year. Net sales increased 19.2% to Rs 8,180 crore during the fourth quarter.
 

Over 2 million shares were traded so far on both the stock exchanges.