Canara Bank announces Rs 16.10 dividend, check record and payment dates

State-owned lender Canara Bank's board of directors on Wednesday, May 8, recommended a final dividend of Rs 16.10 per equity share for FY24, according to a stock market disclosure. 

"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," the company's board said in a BSE filing.

According to a regulatory filing, the record Date for payment of dividend will be June 17 and the payment of dividend is subject to the approval of shareholders at the ensuing annual general meeting of the bank.

Canara Bank has also posted its financial results for the fourth quarter ended on March 31, 2024, along with a dividend announcement. The lender reported an 18.4 per cent rise in its net profit to Rs 3,757.23 crore for the January-March quarter of 2023-24 compared to the same period of the previous year. On a sequential basis, the bank's net profit rose 2.8 per cent over the October-December quarter.

Meanwhile, shares of Canara Bank closed trading at Rs 557.20 each, down 3.41 per cent on BSE today, May 8.