Canara Bank Dividend 2024 after split
After the stock split, Canara Bank’s dividend has been adjusted for the year 2024. Originally, the bank had declared a dividend of ₹16.10 per equity share. However, following a 1:5 stock split, the new dividend amount is proportionately recalculated to reflect the increased number of shares.
Recently, shares of Canara Bank went through a stock split in the ratio of 1:5 After this division, the dividend declared by the bank will be adjusted accordingly. Initially, Canara Bank declared a dividend payment of 161% on the face value of ₹10 per share, which equates to ₹16.10 per equity share.
After the stock split, this dividend will be divided by five, resulting in a new dividend amount of ₹3.22 per share.The bank has declared a proposed dividend of Rs. 16.10 per equity share, representing 161% of the face value of Rs. 10 each for the financial year 2023-24. The recommendation is subject to approval from shareholders at the upcoming annual general meeting, according to a filing dated May 8.
Canara Bank Stock Split 2024
Canara Bank announced a sub-division of its shares in the ratio of 1:5 in February 2024. The announcement was made after the Board of Directors meeting on February 26, 2024. Sub-division means that each equity share having a face value of Rs.10 will be divided into five equity shares with a face value of Rs. 2 each, subject to the approval of the Reserve Bank of India. As a result, shareholders will receive four additional shares for every share they currently hold.
Canara Bank Dividend Split Post 2024
After the stock split, the dividend per share will also be adjusted in the same 1:5 ratio. Thus, the dividend, previously Rs. 16.10 per share, will now be Rs. 3.22 per share. The bank confirmed this in a filing on May 17, 2024, noting that the record date for the stock split was May 15, 2024. Dividend of Rs. 3.22 per equity share (161% of new face value of Rs. 2) pending approval from shareholders at the upcoming annual general meeting.
Canara Bank Dividend History
Canara Bank has a history of rewarding shareholders with dividends. In 2023, the bank declared a dividend of Rs. 12 per equity share, and in 2022, it has declared a dividend of Rs. 6.5 per equity share.
Disclaimer
This information is for informational purposes only and should not be considered investment advice. Readers are advised to consult their financial advisors before making any investment decisions.
