BANK STOCK UNDER RS 170 ANNOUNCES DIVIDEND IN Q4 RESULTS

Federal Bank Dividend 2024, Federal Bank Q4 Results 2024: As earnings season is underway, several companies are declaring their earnings for the fourth quarter ended March 31, 2024. Today, May 2, 2024, Federal Bank announced its earnings for Q4 FY24. The private lender also declared 60 per cent dividend per share for its investors.

Federal Bank Dividend 2024

The board of directors of Federal Bank at the meeting held today, Thursday, May 2, 2024, approved a 60 per cent dividend per equity share in Q4 FY24. A dividend is always calculated and paid on the face value of each stock. The current face value of Federal Bank shares is Rs 2. Accordingly, the 60 per cent dividend translates into Rs 1.20.

“The Board of the Bank has also recommended the payment of final Dividend @ Rs 1.20 per equity share of the face value Rs. 2 each (60%) for the financial year 2023-24 subject to the approval of the Shareholders at the ensuing Annual General Meeting of the Bank,” the private lender said in a regulatory filing today.

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Federal Bank Share Price

Amid the announcement of quarterly results for the January-March period of FY24, shares of the Federal Bank were trading in green at Rs 164.75, at the time of filing this report at around 1.05 pm today, 2.12per cent up from the previous close of Rs 162.50. The stock opened at 169.70.

The company is a constituent of S&P BSE 100 and boosts a market capitalization of Rs 40,471.21 crore. The stock has given 8.77 per cent returns to its investors in the last two weeks, 12.47 per cent in the last three months and 16.96 in the last six months. Shares of the private lender surged 21.38 per cent in the last one, 75.13 per cent in two years and 106.36 per cent in three years, respectively, according to BSE analysts.

(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)

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2024-05-02T07:55:16Z dg43tfdfdgfd