ITC announces interim dividend of 0.25 baht per share

Editorial Staff

ITC announces interim dividend of 0.25 baht per share

i-Tail Corporation PCL (ITC) announced its financial results for the second quarter. The total sales was 3.24 billion baht, a 10 % quarter-on-quarter decline but showed a 4 % increase of net profit to 445 million baht when compared to the first quarter of the year.

ITC has driven its first half of 2023 with new, innovative pet food products and launched 591 quality items, resulting in total sales of 6.83 billion baht and net profit of 870 million baht for the first half of 2023. The company, with 16 new clients in the second quarter, aims to strengthen the business and has prepared marketing and investor relations activities towards the end of the year.

Pichitchai Wongpiya, CEO at i-Tail, said, “We continue our business operations amid inflationary pressures and high interest rates. With the second quarter results improving compared to the previous quarter, particularly on the profit, the company decided to announce the interim dividend at 0.25 baht per share. This is a remarkable 86 %t payout ratio with 750 million baht in dividends paid in the first half of this year.”

The dividend will be paid to shareholders on August 25, 2023 with ex-dividend date on Aug 10, 2023 and record date as of August 11, 2023.

In the first half of the year, sales in Americas represented 51 % of ITC’s revenue, followed by Asia and Oceania with 38 %, and Europe with 11 %. In terms of category mix, ITC’s sales stem from three main product categories: cat food with 68 %, dog food with 17 %, pet treats with 12 %, as well as others with 3 %.

“In the past six months, the company has offered a variety of 3,740 high-quality products. Looking to the future, we continue to focus on innovative, premium pet food products. We have projects in the pipeline to launch in different formats, such as mousse, pâté and drink, for leading global brands and supermarket, retailers, to capture the pet health trends nowadays,” added Wongpiya.