Canara Bank has announced a dividend of Rs 16.10 per share on Wednesday, subject to approval by shareholders in its annual general meeting.
The public sector bank had given a dividend of Rs 12 on June 14, 2023. The total dividend for the previous financial year will be Rs 16.10 apiece, which amounts to Rs 2,920.74 crore.
In fiscal 2023, the nationalised bank declared just one dividend of Rs 6.5 per share.
Canara Bank reported an 18.3% rise in its standalone net profit in the fourth quarter of fiscal 2024 to Rs 3,757 crore, on account of increased net interest income and a drawdown in provisions.
Canara Bank Q4 FY24 Results (Standalone)
Net profit up 18% to Rs 3,757 crore (YoY).
Net interest income up 11.2% to Rs 9,580.2 crore (YoY).
Gross NPA at 4.23% versus 4.39% (QoQ).
Net NPA at 1.27% versus 1.32% (QoQ).
Shares of Canara Bank rose as much as 3.41% to Rs 557.20 apiece, as compared with a 0.06% decline in the BSE Sensex.
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