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ITC’s 115th Annual General Meeting Ends with Strong Shareholder Backing, Dividend Approval, Director Re-Appointments, and Key Governance Resolutions

Kolkata, India: ITC Limited, one of India’s leading diversified conglomerates, successfully concluded its 115th Annual General Meeting (AGM) on July 23, 2026, with shareholders approving all eight resolutions placed before the meeting by overwhelming majorities. Among the most significant outcomes was the approval of a total dividend of ₹14.50 per equity share for the financial year 2025–26, reaffirming the company’s consistent commitment to shareholder value.

The AGM was conducted through Video Conferencing (VC) and Other Audio-Visual Means (OAVM), ensuring broad shareholder participation. The meeting commenced at 10:30 a.m. IST and concluded at 2:30 p.m. IST, under the chairmanship of Mr. Sanjiv Puri, Chairman & Managing Director of ITC Limited.

During the meeting, Mr. Puri delivered his keynote address titled “ITC: Partnering India in its Defining Decade,” outlining the company’s long-term strategy for sustainable growth, innovation, digital transformation, and nation-building.

₹14.50 Dividend Approved

Shareholders approved:

Interim Dividend: ₹6.50 per equity share
Final Dividend: ₹8.00 per equity share

Total Dividend for FY 2025–26

₹14.50 per equity share (Face Value: ₹1 each)

The dividend approval reflects ITC’s strong financial position and its continued track record of rewarding shareholders through consistent dividend payouts.

All Eight AGM Resolutions Passed

Shareholders approved all items of business comprising five Ordinary Resolutions and three Special Business Resolutions.

Major Approvals Included

1. Financial Statements

Adoption of Standalone and Consolidated Financial Statements for the year ended March 31, 2026, along with the Board’s Report and Auditors’ Report.

2. Dividend Declaration

Confirmation of the ₹6.50 Interim Dividend.
Approval of the ₹8.00 Final Dividend.

3. Director Re-Appointments

Mr. Sunil Panray re-appointed as Director.
Mr. Siddhartha Mohanty re-appointed as Director.

4. Statutory Auditors’ Remuneration

Approval of remuneration up to ₹4.40 crore for S R B C & CO LLP, Chartered Accountants, for auditing FY 2026–27 financial statements.

5. Independent Director

Approval of the re-appointment of Mr. Hemant Bhargava as Independent Director for another five-year term, effective December 20, 2026.

6. Cost Auditors

Approval of remuneration:

₹7 lakh for ABK & Associates.
₹7.90 lakh for S. Mahadevan & Co.

Shareholder Participation

As of the record date (July 16, 2026):

Registered Shareholders: 43,73,208
Public Shareholders attending virtually: 673

The company facilitated:

Remote E-Voting: July 19–22, 2026
Live E-Voting during AGM

The voting process was independently scrutinized by Mr. R. L. Auddy, Senior Solicitor and Partner at Sandersons and Morgans, ensuring transparency and regulatory compliance.

Official Voting Results

Resolution	Votes in Favour	Votes Against
FY26 Financial Statements	99.9888%	0.0112%
₹14.50 Dividend Approval	99.9922%	0.0078%
Re-appointment of Mr. Sunil Panray	98.9713%	1.0287%
Re-appointment of Mr. Siddhartha Mohanty	98.9714%	1.0286%
Statutory Auditors’ Remuneration	99.9829%	0.0171%
Re-appointment of Mr. Hemant Bhargava	94.1815%	5.8185%
Cost Auditors – ABK & Associates	99.9905%	0.0095%
Cost Auditors – S. Mahadevan & Co.	99.9902%	0.0098%

The results demonstrate strong shareholder confidence in ITC’s governance framework, leadership, and long-term business strategy.

Corporate Governance and Strategic Outlook

The AGM reinforced ITC’s focus on:

Sustainable Business Growth
Digital Transformation
Responsible Corporate Governance
Operational Excellence
Shareholder Value Creation
Innovation Across Business Segments
Nation-Building Initiatives

The company continues to expand across its diversified portfolio, including:

FMCG
Hotels
Paperboards & Packaging
Agri-Business
Information Technology
Cigarettes
Sustainable Value Chains

American Experts Share Their Perspective

Dr. Michael Reynolds, a corporate governance expert based in New York, said the AGM outcomes reflect strong investor confidence.

“Approval of all major resolutions with overwhelming shareholder support demonstrates confidence in ITC’s governance practices, leadership stability, and capital allocation strategy. Consistent dividend payouts remain an important factor for long-term institutional investors.”

Meanwhile, Jennifer Carter, a Chicago-based equity strategist specializing in emerging markets, noted that ITC’s dividend policy continues to attract attention.

“A total dividend of ₹14.50 per share, combined with high approval rates across governance resolutions, reflects disciplined financial management. Investors generally value companies that maintain both strong shareholder returns and sound governance standards.”

Why This AGM Matters

The 115th Annual General Meeting marked another important milestone for ITC Limited, reaffirming shareholder confidence and the company’s commitment to delivering sustainable growth.

Key Highlights

₹14.50 total dividend approved for FY 2025–26.
All eight AGM resolutions passed with overwhelming shareholder support.
Five Ordinary and Three Special Business resolutions approved.
Strong corporate governance reflected in 94%–99.99% voting support.
Director re-appointments and auditor appointments approved.
More than 43.73 lakh shareholders eligible to participate.
Transparent e-voting process conducted in compliance with SEBI regulations.

Outlook

With strong shareholder endorsement, a robust dividend payout, and decisive approval of key governance resolutions, ITC Limited enters the next financial year on a solid footing. Backed by its diversified business portfolio, disciplined capital allocation, and long-term strategic vision outlined by Chairman & Managing Director Sanjiv Puri, the company remains well-positioned to pursue sustainable growth while continuing to create value for shareholders, customers, and the broader Indian economy.