DCB Bank Q4 dividend: Lender's stock closes 10% higher after board announces Rs 1.25 dividend

The board of directors of DCB Bank on Wednesday, April 24, recommended a final dividend of Rs 1.25 per equity share of face value of Rs 10 each, according to a stock market disclosure.

"The board of directors of the bank at its meeting held today has also recommended a dividend of R 1.25 per equity share of face value Rs 10 each of the bank, subject to requisite approvals. The dividend on equity shares will be paid/dispatched within the prescribed time, after the same is approved by the shareholders at the ensuing Annual General Meeting (AGM) of the Bank," the company said in a BSE filing.

Simultaneously, the bank has also posted its financial results for the fourth quarter ended on March 31, 2024. The company's profit increased by 9.5 per cent to Rs 155.68 crore in comparison with last year's Rs 142.21 crore during the same period (Q3FY23). The total income recorded by the firm during the quarter was at Rs 1580.82 crore, up 21.5 per cent as against Rs 1301.61 crore during the same quarter last year. 

Meanwhile, shares of DCB bank closed at Rs 136.45 each, up 10.17 per cent on BSE today.