Canara Bank Dividend 2024 after split: Shares of Canara Bank underwent split in the ratio 1:5 recently. Subsequently, the dividend announced by the bank will also get divided in the same ratio. Check new dividend amount after stock split.
Read More: Ujjivan Small Finance Bank Dividend 2024 DECLARED!
Canara Bank Dividend 2024
Canara Bank had earlier announced 161 per cent dividend payout ratio on the face value of Rs 10 each, which translates to an amount of Rs 16.10 dividend per equity share.
“Recommended 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 the approval of Shareholders at the ensuing Annual General Meeting of the Bank,” the bank said in a filing dated May 8.
Canara Bank Stock Split 2024
Canara Bank announced sub-division of its shares in the ration 1:5 back in February, 2024.
“This is to inform the Stock Exchanges that the Board of Directors of the Bank at it’s meeting held today, i.e Monday, 26th February 2024, inter alia, approved Sub-division/ split of every one equity share of face value of Rs. 10/- (Rupees ten only) each, fully paid-up, into 5 (five) equity shares of face value of Rs. 2 /- (Rupee two only) each, fully paid-up, subject to approval of the Reserve Bank of India,” the bank announced in a filing dated February 26.
Read More: Delhivery stock tumbles 5% as logistics firm slips into red in Q4; Emkay maintains ‘buy’ call
This means that, shareholders of Canara Bank will get four additional shares of the bank for each stock they hold.
Canara Bank Dividend 2024 after split
Post stock split, the dividend amount will also get divided in the ratio 1:5. This means that, from Rs 16.10 per share, the new dividend amount will be Rs 3.22 per share.
“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/-. 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,” said the bank in a filing dated May 17.
Read More: ONGC Share Price Target 2024: Buy rating by Jefferies – check dividend history
Canara Bank Dividend History
Canara Bank has a rich history of rewarding its shareholders with dividends. The bank had last declared a dividend of Rs 12 per equity share in 2023. Prior to that, in 2022 too the bank declared Rs 6.5 per equity share dividend.
