Investing.com — The leading private sector lender Axis Bank (NS:AXBK) will remain under focus this week as its shares are set to turn ex-dividend for a dividend of 50% for the financial year ended March 31, 2023.
According to Investing.com’s ‘Dividend Calendar’, the banking major will begin trading ex-dividend on Friday, July 7, 2023.
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The Board of Directors of Axis Bank had recommended a final dividend of Re 1 per equity share having a face value of Rs 2 each fully paid up for the financial year 2022-23, translating to a dividend of 50% for the year.
The corporate reward is subject to the approval of the private lender’s shareholders at the bank’s 29th Annual General Meeting (AGM) scheduled to be held on July 28, 2023, through video conferencing.
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The mega-cap company’s Board of Directors have approved to pay the aforementioned final dividend to shareholders holding Axis Bank’s shares as of the close of the business hours on the record date of July 7, 2023.
The dividend, if approved at the ensuing AGM, will be paid to the eligible shareholders of Axis Bank on or after five days from the conclusion of the 29th AGM.
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Shares of Axis Bank continued to rise for the fourth day in a row on Friday, gaining 3.3% during the period and hit a fresh 52-week high of Rs 989.85 apiece on June 30, 2023.
