Kotak Mahindra Bank Declares Dividends On Non-Convertible Perpetual Non-Cumulative Preference Shares

Kotak Mahindra Bank, a leading private sector bank in India, in its Board Meeting held on 18th March 2023, declared a dividend of Rs. 0.405 per Non-Convertible Perpetual Non-Cumulative Preference Share on the 8.10% Non-Convertible Perpetual Non-Cumulative Preference Shares of the face value of Rs. 5/- each for the Financial Year 2022-23. Check below to know more:

Declared A dividend On Non-Convertible Perpetual Non-Cumulative Preference Share

According to the regulatory filing by the Board of Directors of Kotak Mahindra Bank, "Pursuant to Regulation 51 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations"), we wish to inform you that the Board of Directors, at their meeting today, have declared a dividend of Rs. 0.405 per Non-Convertible Perpetual Non-Cumulative Preference Share on the 8.10% Non-Convertible Perpetual Non-Cumulative Preference Shares of face value of Rs. 5/- each ("PNCPS") (INE237A04014), for the financial year ending March 31, 2023. As intimated vide our letter dated March 4, 2023, the Bank had fixed Friday, March 17, 2023 as the "Record Date" for the purpose of ascertaining the holders of PNCPS eligible to receive the aforesaid dividend. In line with the terms of issue of the PNCPS, the said dividend would be subject to withholding tax at the rate prevailing under the applicable law."

Kotak Mahindra Bank's Stock Performance Over The Past 5 Years

The shares of Kotak Mahindra Bank last traded at Rs 1,693.10 apiece on NSE, up 1.78% as compared to its previous close of Rs 1,663.55 apiece. It traded its 52 week high on 18 November 2022 at Rs 1,997.55 apiece and 52 week low on 30 June 2022 at Rs 1,631 apiece, respectively.

In the past 1 year, the stock declined 6.97%. Whereas, in the past 1 month, 0.36%, in 1 month 3.76% and in 3 months 8.01%, respectively. However, it also gave a positive return of 28% in 3 years and 59.61% in 5 years, respectively.

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