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.
