1:5 Stock Split: 118-Yrs Old PSB Trades Ex-Dividend After Shares Turned Affordable

Public sector bank Canara Bank shares today gained 1.68% to Rs 120.80 per share. Today Canara Bank shares traded ex-dividend as the company fixed June 14, 2024 as the ex-dividend date. The record date for Canara Bank share was fixed as June 17, 2024. Canara Bank share offered return of 36% year-to-date and gained 98% in last 1-year. Earlier, Canara Bank stock traded ex-split in the proportion of 1:5 as on May 15, 2024. The PSB (Public Sector Bank) has a market capitalisation of Rs 1,09,573.47 crore. Canara Bank declared final dividend of Rs 16.10 per share on May 8, 2024.

The dividend has been revised to Rs 3.22 per share of the face value of Rs 2 each due to post effective of stock split/sub-division of share on June 15, 2024. Life Insurance Corporation Of India has 6.21% stake in Canara Bank with 112,719,914 shares of the company. Check key details below:

Canara Bank Dividend: "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," according to Canara Bank's statement. As per the regulatory filing of Canara Bank dated May 8, "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."

Canara Bank Fixes Record Date For Dividend: The PSB declared June 17 as the record date for dividend.

Canara Bank Dividend History: Canara Bank announced 20 dividends since July 7, 2003. In last 1-year, Canara Bank announced an equity dividend amounting to Rs 3.22 per share. At the current share price of Rs 120.80, Canara Bank offers a dividend yield of 2.67%. FII/FPI have decreased holdings from 11.21% to 10.57% in March 2024 quarter. Number of FII/FPI investors increased from 412 to 444 in March 2024 quarter. Mutual Funds have increased holdings from 5.21% to 5.82% in March 2024 quarter. Number of MF schemes increased from 32 to 34 in March 2024 quarter.

Canara Bank Share Performance: The 52-week high price of Canara Bank share on BSE is Rs 129.35 per share (as on 04/06/2024) and 52-week low price is Rs 58.29 per share (as on 26/06/2023), respectively. Canara Bank has a PE of 1.51 and ROE of 16.74. Canara Bank shares offered return of 35% in last 6-months, soared 290% in last 3-years, and surged 129% in last 5-years.

Canara Bank Q4: Canara Bank declared net profit at Rs 3757 crore for Jan-March quarter of 2023-24, up 18.33% YoY amid steady surge in interest income and fall in provisions. Sequentially, the PSU's profit rallied by 2.76% from Rs 3,656 crore for the quarter ended December (Q3) of FY 2024.

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