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1 Mid Cap & 1 Large Cap Banking Stock Turning Ex-Dividend This Week- Should You Buy?

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Bank of India and Axis Bank, one mid-cap and one large-cap banking stock dividends to turn ex-dividend this week. The record date of the declared dividend is also fixed for this week. Both the banks maintain a good track record of dividends. Check out details to know more about the returns and the dividend payouts that turning ex-dividend this week.

 

Bank Of India
 

Bank Of India

Recommended Dividend & Dividend History

The Board meeting of Bank of India was held on 24th May 2022 where the company recommend a final dividend of 20% amounting to Rs 2/share.

The Board of Directors of the company in its filing to exchange has stated, "Recommended a dividend of Rs. 2.00 (Rupees Two) (i.e. 20%) per equity share (Face Value Rs.10/- each fully paid up) for the FY2022-23 subject to approval of shareholders at the ensuing 26th Annual General Meeting of the Bank."

Ex-Dividend & Record Date - The ex-dividend date of the recommended final dividend is 7 July 2022, and the record date is 08 July 2022.

The company maintains a good track record of dividend payout for the last 21 Years. Since 2001, the company has declared 20 Dividends out of which 15 were final dividends including the recent one, and the rest 5 were interim dividends.

Bank Of India Stock Details

The Current Market Price (CMP) of the Bank of India is 45.40/share, gained nearly 1.45% from the previous close of Rs 44.75/share. The stock's CMP is trading near 52 week low which is Rs 40.20/share, a record last month on the 20th. The 52-week high of the stock is Rs 78.75/share recorded on 01 July 2021. The P/E ratio is 5.32 and the PB ratio is 0.32. The ROE is 6.17%. Bank of India is a mid-cap company with a market capitalisation of Rs 18,548.12 crore.

Returns- In past 1 year the has given a negative return of 41.27%, in 3 years it gave a negative return of 52.12% and in 5 years it gave a negative return of 66.97%, respectively.

Axis Bank

Axis Bank

Recommended Dividend & Dividend History

Axis Bank has a good track record of Dividend payout for the last 21 years. The company has declared 19 dividends since June 2001. All the 19 dividends are final dividends, The company has not declared any interim or special dividends so far.

In its Board of directors meeting held on April 28, 2022, the company declared a final dividend of 50% amounting to Rs 1 per share for the march ending 2022.

On 22 June 2022, the bank in its letter Subject "Communication sent to the Shareholders of the Bank" stated, "This is with reference to our letter AXIS/CO/CS/44/2022-23 dated April 28, 2022, where we have informed that the Board of Directors of Axis Bank Limited (the Bank) at its meeting held on April 28, 2022, recommended final dividend of Re. 1/- per equity share of face value of Rs. 2/- each for the financial year 2021-22, subject to approval of the members at the ensuing 28th Annual General Meeting (" AGM")."

Ex-Dividend & Record Date - The ex-dividend date of the declared final dividend is 07 July 2022, and the record date is 08 July 2022.

Axis Bank Stock Details

The current market price (CMP) of Axis Bank is Rs 648.76/share on NSE. Today, it was opened at the previous close of Rs 641.55/share. The stock of the bank recorded the 52-week low at 618.25/share on June 23, 2022, while the 52-week high is Rs 866.90/share, recorded on 25 October 2021. PE ratio is 14 and the PB ratio is 1.66. ROE is 11.95%. Axis Bank is a large-cap stock with a market capitalization of Rs 1,97,676 Crore.

Returns - The stock has given 16.86% of negative returns in the past 3 months, and 13.73% of negative returns in 1 year. On investment in 3 years, it gave negative returns of 20.54% and a positive return of 24.47% in the past 5 years, respectively.

Stock & Dividend

Stock & Dividend

BankDividendEx-Dividend DateRecord DateMarket Cap
Bank Of India20.00%07/07/2208/07/22Mid Cap
Axis Bank50.00%07/07/2208/07/22Large Cap

Disclaimer

The stocks have been sourced from NSE & BSE. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.

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