“The Board of Directors of the Company at the meeting convened for Thursday, 11th February 2021, will consider the declaration of Interim Dividend for the financial year ending on 31st March, 2021,” ITC Ltd said in a statement to exchanges. ITC stock price was 1.5 per cent higher at Rs 233 in noon trade. Shares of the cigarette-to-FMCG major have rallied nearly 35 per cent over the past three months. “In the past when there have been no tax hikes on cigarettes, ITC’s cigarette volumes have grown. The last such period was from 2Q FY19 to 3Q FY20, where on a YoY basis there were no cigarette tax hikes. In this period, ITC was able to deliver low-to-mid single-digit volume growth, despite a very weak macro environment for consumption in that period where FMCG industry’s growth was mid-single digits,” said analysts from Credit Suisse Securities (India) Pvt. Ltd in their report post the Budget.