ITC shares hit all-time high, top Rs 450 mark ahead of turning ex-dividend

ITC’s shares hit a record high on Monday before it went ex-dividend on May 30. The company’s board recommended a final dividend of Rs 6.75 and a special dividend of Rs 2.75 per equity share, which, along with the interim dividend of Rs 6 per share, will total Rs 15.50 for FY 2022-2023. The stock has been in an uptrend and traders can look to accumulate the stock on dips with a target of Rs 460 in the next 2-3 weeks. An equity dividend yield of 1.35% was offered in the last 12 months.

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