Canara Bank dividend 2024 : Shareholders of PSU lender Canara Bank were meant to receive dividend of Rs 16.10 equity per share.
Canara Bank stock splitCanara Bank has recently announced that its board of directors recommended a dividend of Rs.
Related News HUDCO Dividend 2024: Navratna PSU declares cash reward in Q4 resultsWith this, Canara Bank declared a dividend of Rs.
Canara Bank share price historyAlthough the shares of Canara Bank dipped over 5% in one month, in the last two weeks, the scrip gained 6.48%.
Canara Bank share priceThe shares of Canara Bank have been in focus for its first-ever stock split.
Canara Bank dividend 2024 : Shareholders of PSU lender Canara Bank were meant to receive dividend of Rs 16.10 equity per share. However, the dividend has been slashed down to Rs 3.22 equity per share. So, what’s the reason?
Canara Bank stock split
Canara Bank has recently announced that its board of directors recommended a dividend of Rs. 16.10 per equity share. However, shares of the bank underwent a subdivision at the ratio of 1:5 for which the record date was 15.05.2024. Accordingly, the new face value is set at Rs 2.
Related News HUDCO Dividend 2024: Navratna PSU declares cash reward in Q4 results
With this, Canara Bank declared a dividend of Rs. 3.22 per equity share to the shareholders for the year 2023-24. This is the second lowest dividend after 2017.
“We have, vide our above mentioned letters, informed the Stock Exchanges regarding recommendation of dividend of Rs. 16.10 per equity share(i.e 161% of face value of Rs.10/-) each to the shareholders for the year 2023-24, subject to approval of shareholders at the ensuing Annual General Meeting of the Bank. Shares of our bank has undergone subdivision at the ratio of 1:5 for which the record date was 15.05.2024. The new face value is Rs.2/-,” the PSU lender said in an exchange filing.
“Accordingly, we wish to inform you that the dividend of Rs. 3.22 per equity share (i.e 161% of face value of Rs. 2/-) each to the shareholders for the year 2023-24, will be paid subject to approval of shareholders at the ensuing Annual General Meeting of the Bank,” the lender added.
Canara Bank share price history
Although the shares of Canara Bank dipped over 5% in one month, in the last two weeks, the scrip gained 6.48%. It has delivered a return of 32.01% on a year-to-date basis and gained 49.99% in the last six months.
Canara Bank share price
The shares of Canara Bank have been in focus for its first-ever stock split. On Monday, the shares traded in red at Rs 117.10 per share on NSE.
On Monday, shares of Canara Bank traded in the range of Rs 118.25 per share and Rs 115.80 per share.
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