Bank of Baroda Sets Record Date For Dividend, FIIs Stake Up In Q4

Bank Of Baroda (BoB) is a large cap public sector bank that recorded a market cap of Rs 97,273.32 Cr during Friday's closing session. The Board of Directors of the Bank at its meeting held on 16th May 2023 has recommended a dividend of Rs 5.50 per share FY23 and in order to determine the eligibility of the shareholders for the purpose of the same BoB has finalized record date.

"The Board of Directors of the Bank at its meeting held on 16th May 2023 has recommended dividend @ Rs 5.50 (Rupees Five and paise fifty only) per equity share of Rs.2/- each fully paid up, for the financial year ended 31st March 2023. Dividend as recommended by the Board of Directors and approved at the 27th Annual General Meeting will be paid as under: a) To all beneficial owners in respect of shares held in electronic form as per the data as may be made available by the National Securities Depository Limited (NSDL) and the Central Depository Services (India) Limited (CDSL) as of the close of the business hours on 30th June 2023; b) To all the members in respect of shares held in physical form after giving effect to valid transfers in respect of transfer requests lodged with the Bank / Bank's RTA on or before the close of business hours on 30th June 2023," said Bank Of Baroda (BoB) in a stock exchange filing.
The register of shareholders and share transfer books of the bank will remain closed from Saturday, 01st July 2023 to Friday, 07th July 2023 (both days inclusive) for the purpose of 27th Annual General Meeting and payment of dividend for the FY 2022-23, according to BoB.

The bank reported a standalone profit after tax (PAT) for Q4FY23 of Rs 4,775.33 crore against a profit of Rs 1,778.77 in the corresponding quarter last year. Gross non-performing assets (NPAs) for the bank decreased by 32% YoY for the quarter to Rs 36,763.68 crore from Rs 54,059.39 crore in Q4FY22. From Rs 13,364.65 crore in the same quarter previous year to Rs 8,384.32 crore in Q4FY23, Net NPA decreased by 37.3% YoY. In Q4FY23, the bank's operating profit margin increased to 27.53% from 27.23% in Q4FY22.

The bank reported that its return on assets (RoA) for FY23 climbed by 43 bps YoY to 1.03 percent (FY23) and by 77 bps YoY to 1.34 percent for Q4FY23. Return on equity (RoE) for FY23 rose by 648 bps YoY to 18.34%, while for Q4FY23, it improved by 1321 bps YoY to 24.82%. Net interest income (NII) for the bank was 33.8% for Q4FY23 and 26.8% for FY23, respectively. The bank's net interest margins (NIM) increased by 28 bps YoY for the entire fiscal year FY23 and by 45 bps YoY to 3.53 percent for March 2023 quarter. In Q4FY23, the bank garnered a total of Rs 25,856.68 crore in interest, up 42.3% from Rs 18,173.61 crore in the same period previous year.

On Friday, the shares of BoB closed on the BSE at Rs 188.10 apiece up by 2.53% from the previous close of Rs 183.45. The stock touched a 52-week-high of Rs 197.20 on (09/12/2022) and a 52-week-low of Rs 89.90 on (20/06/2022).

During Q4FY23, the bank reported promoters shareholding of 63.97%, FIIs stake of 10.93%, DIIs stake of 16.74%, Govt stake of 0.26%, and public stake of 8.10%. According to Trendlyne's data, promoters' stake in the Bank of Baroda remained constant at 63.97% in the March 2023 quarter, while FII/FPI increased their holdings from 9.97% in the December 2022 quarter to 10.93% in the March 2023 quarter, the number of FII/FPI investors jumped from 476 to 679, mutual funds decreased their holdings from 10.87% to 10.11% and institutional investors lifted up their stake from 27.92% in Q3FY23 to 27.93% in Q4FY23.