A dividend of Rs 16.10 per share was announced by Canara Bank on Wednesday; however, it is contingent upon shareholder approval at the annual general meeting.
On June 14, 2023, the public sector bank distributed a dividend of Rs 12.
The entire payout for the preceding fiscal year is going to be Rs 2,920.74 crore or Rs 16.10 per share. The nationalised bank announced a single dividend of Rs 6.5 per share for the fiscal year 2023.
In the fourth quarter of fiscal 2024, Canara Bank reported an 18.3% increase in its standalone net profit to Rs 3,757 crore, driven by a decrease in provisions and a rise in net interest revenue.
Canara Bank Q4 FY24 Results
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).
Canara Bank’s shares increased by 3.41% to Rs 557.20 a share, while the BSE Sensex fell by 0.06%.
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