Canara Bank Stock Split News: PSU Bank Fixes Date for Share Split; Stock Hits 52-Week High | Check Canara Bank Share Dividend History

Feb 7, 2024
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Canara Bank Stock Split News: PSU Bank Fixes Date for Share Split; Check Dividend History

Canara Bank Stock Split News: PSU Bank Fixes Date for Share Split; Check Dividend History

Canara Bank Stock Split News, Canara Bank Share Dividend History: PSU Canara Bank on Wednesday, February 7 informed the exchanges that the company’s board is likely to consider stock split in the upcoming board meeting scheduled to take place in the last week of February. A stock split happens when a company divides its existing stock into multiple shares to boost liquidity. It divides stock into multiple shares to boost liquidity. The final decision to the share division will be announced after the consideration of the board members in the meeting and approval from the Reserve Bank of India (RBI) and other regulatory bodies as it is the state-owned bank. This will be the first sub-division of the face value of the stock of Canara Bank, if approved.

Canara Bank Stock Split Date

A meeting of the Board of Directors of the Canara Bank is scheduled to be held on Monday, 26th February 2024, to seek in principle approval from the Board of Directors for Sub-Division/Split of the Equity Shares of the Bank. A stock split is decided on the face value of the stock and the current face value of each stock of Canara Bank is Rs 10. Listed companies may also split stocks to make share prices more attractive. The total value of the shares, however, remains the same because the split has no impact on the market value of the stock.

Canara Bank Stock Split Record Date, Ratio

Bengaluru-headquartered bank is likely to fix the stock split ratio and the record date in its upcoming meeting on February 26.

Canara Bank Share Dividend History

Public sector bank had announced Rs 12 dividend for its shareholders in 2023. Earlier in 2022, the company reward its shareholders with Rs 6.50 dividend per share. Back in 2017, it paid a dividend of Re 1 for it shareholders.

Canara Bank Share Price History

The counter opened gap-up in Wednesday’s trading session. At the time of filing this report, the scrip was up nearly 5 per cent to quote at Rs 545.30 apiece. A total of 2.24 lakh shares changed hands today of Canara Bank generating a total turnover of Rs 12.12 crore. The company has a market cap of Rs 99,051.51 crore, as per BSE website. The shares of the company have a PE of 6.77x. In volume terms, over 85 lakh shares of the company were traded on the NSE.

The counter has delivered multibagger returns of 110.97 per cent in the last two years, making investors richer with massive gains. In the last three years, it climbed a whopping of 238.56 per cent, as per data available on the BSE Analytics.

(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.)

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