![ITC, 2 multibagger stocks to trade ex-dividend on Wednesday](https://img.etimg.com/thumb/msid-97908869,width-210,height-158,imgsize-25620,resizemode-75/itc-2-multibagger-stocks-to-trade-ex-dividend-on-wednesday.jpg)
ITC has declared an interim dividend of Rs 6 per share for the financial year 2022-23. In the past 12 months, ITC has declared an equity dividend amounting to Rs 6.25 per share. At the current stock levels, this results in a dividend yield of 1.66%.
When a company goes ex-dividend on a particular date, its stock does not carry the value of the next dividend payment. Usually, an ex-dividend date is set one or two days before the record date.
After trading rangebound over the past few years, ITC took off last year, delivering 74% returns to investors. So far this year, it has been among the top Nifty performers, with 15% returns year-to-date.
The cigarette-to-hotel conglomerate reported a 21% year-on-year (YoY) rise in net profit for the quarter ended December to Rs 5,031 crore. Revenue from operations, net of excise duty, rose a meagre 2.3% on year to Rs 16,226 crore and trailed estimates of Rs 16,810 crore.
According to Trendlyne data, ITC has an average price target of Rs 417.29, representing an upside of 8.85% from the current levels.
Meanwhile, Tube Investments of India has declared an interim dividend of Rs 2 and will go ex-date on February 15. The company had a dividend yield of 0.14% in the past one year.
The company has given multibagger returns to investors in the last five years, rising over 800% during the period.
Tube Investments, which specializes in bicycles, metal-formed products and chains, has an average target of Rs 2491.50. The consensus estimate represents a downside of 0.76% from the current stock levels.
Another multibagger stock, Pradeep Metals, which has nearly doubled investors' wealth in the past one year has declared an interim dividend of Re 1 for the current fiscal and will trade ex-dividend tomorrow for the same. In the last one year, the company had a dividend yield of 0.82%.
Pradeep Metals manufactures die steel forgings. The company produces forgings for the defence, automobile, engineering and petrochemical industries, both for domestic and international markets.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2024 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)
Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
Read More News on
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2024 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)
Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price