CANARA BANK Q4 RESULTS 2024: BANK ANNOUNCES BUMPER DIVIDEND - CHECK AMOUNT AND OTHER DETAILS

On Wednesday, Canara Bank announced its fourth-quarter financial performance. The bank posted a robust performance in its standalone net profit for the quarter concluding March 2024, exhibiting 18 per cent surge to reach Rs 3,757 crore compared to the corresponding period last year, where it stood at Rs 3,174 crore.

The bank's net interest income (NII) also witnessed an uptick, ascending by 11 per cent year-on-year (YoY) to reach Rs 9,580 crore during the reporting quarter.

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Furthermore, the operating profit (before provisions and contingencies) witnessed a marginal yet commendable growth of 2 per cent YoY, totaling Rs 7,387 crore for the fourth quarter, compared to Rs 7,252 crore recorded in the same quarter of the previous fiscal year.

The bank has also proposed a dividend of Rs.16.10 per equity share, equivalent to 161 per cent of the face value of Rs.10 each.

As per the bank's filing on the NSE, "Recommended Dividend of Rs.16.10/- per equity share (i.e., 161%) of face value of Rs.10/- each to the shareholders for the year 2023-24, subject to the approval of Shareholders at the ensuing Annual General Meeting of the Bank."

At the time of filing, the shares of Canara Bank were trading at Rs 581.20, 0.77 per cent up from the previous day's closing. The 52 week high and low of the share is Rs 632.90 and Rs 291.35 respectively.

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

2024-05-08T09:05:23Z dg43tfdfdgfd