Shares of Canara Bank will be in focus on Thursday as it is the last day to buy the stock to be eligible to receive dividend. In an exchange filing, the company declared June 13 as the record date for the dividend.
Canara Bank's board of directors, at their meeting held on May 8, had recommended a dividend of 200% on equity shares of the bank, that is, Rs 4 per share having face value of Rs 2 each for the financial year 2025. This is subject to approval of shareholders at the upcoming annual general meeting.
As India follows the T+1 settlement system, anyone buying shares of Canara Bank on June 13 will not be eligible to receive dividend.
On the record date, companies determine the eligible shareholders for dividend. The ex-dividend day reflects the share price adjusted against the upcoming payout.
Canara Bank Share Price On Thursday
The scrip rose as much as 0.60% to Rs 117.79 apiece before falling 0.41% to Rs 116.61 apiece. It pared losses to trade 0.09% lower at Rs 116.96 apiece, as of 10.35 a.m. This compares to a 0.17% decline in the NSE Nifty 50.
The share price has risen 16.71% on a year-to-date basis, and is down 5.07% in the last 12 months. The relative strength index was at 71.
Out of 18 analysts tracking the company, 13 maintain a 'buy' rating, four recommend a 'hold', and one suggests 'sell', according to Bloomberg data. The average 12-month consensus price target implies an downside of 2.5%.
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