Canara Bank Stock Split: Multibagger PSU Stock To Be Sub-Divided In 1:5 Ratio

Leading public sector lender today approved stock spilt in the ratio of 1:5 implying one equity share of face value of Rs 10 will be sub-divided into 5 equity shares of Rs 2 each. Last trading price of Canara Bank shares on BSE is Rs 572.80 apiece with intraday fall of 1.24%. Canara Bank stock zoomed 111% in last 1-year and gained 76% in last 6-months. Check details below:

Canara Bank Approves Maiden Stock Split In History: As per the BSE filing of the company dated February 26, 2024, "This is to inform the Stock Exchanges that the Board of Directors of the Bank at its 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.

Canara Bank Shares Performance & Return: The 52-week high price of Canara Bank stock on BSE is Rs 598.75 apiece and 52-week low price is Rs 268.85 apiece, respectively. Canara Bank shares gained 29% year-to-date, soared 47% in last 1-year, zoomed 111% in last 1-year, and offered surge of 264% in last 3-years (highest return).

Issue of AT1 Bonds: Earlier this month, the bank issued its BSE filing on Feb 21 stating, "Pursuant to Regulation 30 and 51 of SEBI (LODR) Regulations, 2015, we inform that the Bank has raised Rs 2000 crores Non-Convertible, Taxable, Perpetual, Subordinated, Fully Paid Up, Unsecured Basel III Compliant Additional Tier 1 Bonds of face value Rs. 1 crore each at a coupon of 8.40 %."

Highest Dividend In Last 10-Years In 2023: Canara Bank declared its highest dividend of Rs 12/share in last 10-years in 2023 and its ex-dividend date was June 14, 2023. Before that, Canara Bank recommended Rs 13/share dividend in 2013.

No Bonus Share Yet: Canara Bank so far did not announce any bonus share in its history.

Canara Bank Financials: The bank on January 24, 2024 announced its net profit at Rs 3,656 crore for the October to December quarter, up 26.87% as against Rs 2881.52 crore announced in the corresponding quarter of last fiscal. The PSU's non-performing asset (NPA) arrived at 4.39%, down from 5.89% declared in the similar quarter of preceding fiscal. Net NPA of Canara declared at 1.32%. Its net interest income announced at Rs 9,417 crore, up 9.50%. Net Interest Margin declared at 3.02% grew by 9 bps. Canara's global business jumped by 9.87% YoY to Rs 22,13,360 crore as of December 2023. Global deposits declared at Rs 12,62,930 crore and global advance (gross) announced at Rs 9,50,430 crore, respectively.

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