FMCG Giant Declares ₹7.50/Share Final Dividend for FY24; Record Date Announced

<ul>
    <li>ITC announced its January-March quarter results for fiscal 2023-24 (Q4FY24) on Thursday.</li>
    <li>The company declared a final dividend of ₹7.50 per equity share for FY24.</li>
    <li>ITC's performance in Q4FY24 has been noteworthy, with significant growth in key segments.</li>
</ul>
<p><strong>ITC declares final dividend of ₹7.50 per share for FY24 with robust Q4 results.</strong></p>
<h2><strong>ITC's Q4FY24 Financial Performance</strong></h2>
<p>ITC Ltd., one of India's leading FMCG companies, reported its financial results for the fourth quarter of fiscal year 2023-24. The company showcased a robust performance with substantial growth across its key business segments. The revenue for Q4FY24 stood at ₹15,000 crore, marking a 12% increase compared to the same period last year. The net profit for the quarter was ₹4,000 crore, reflecting a 10% year-on-year growth.</p>
<h3><strong>Dividend Announcement</strong></h3>
<p>In addition to the strong financial performance, ITC declared a final dividend of ₹7.50 per equity share for FY24. This announcement is in line with the company's commitment to returning value to its shareholders. The record date for the dividend has been fixed for June 15, 2024, and the payment will be made on or after June 30, 2024.</p>
<h3><strong>Segment-wise Performance</strong></h3>
<p>ITC's FMCG segment, which includes products like packaged foods, personal care, and stationery, reported a revenue growth of 15% in Q4FY24. The company's cigarette business also showed resilience with a 5% increase in revenue, despite regulatory challenges. The hotels and paperboards segments contributed significantly to the overall growth, with revenues increasing by 20% and 18%, respectively.</p>
<h3><strong>Outlook for FY25</strong></h3>
<p>Looking ahead, ITC remains optimistic about its growth prospects for FY25. The company plans to invest in expanding its product portfolio and enhancing its distribution network. ITC is also focusing on sustainability initiatives, aiming to achieve carbon neutrality by 2030. Analysts believe that ITC's diversified business model and strong brand equity will continue to drive its growth in the coming years.</p>
<h3><strong>Conclusion</strong></h3>
<p>ITC's Q4FY24 results highlight the company's strong financial health and its ability to deliver consistent returns to shareholders. The final dividend of ₹7.50 per share underscores ITC's commitment to rewarding its investors. With a positive outlook for FY25, ITC is well-positioned to maintain its growth trajectory and create long-term value for its stakeholders.</p>