Canara Bank announces ₹6.50 dividend per share as Q4 net profit jumps 65%
Canara Bank has blazoned tip of ₹6.50 per share for its shareholders. While publicizing the Q4FY22 results, the PSU bank reported its net profit in January to March 2022 quarter at ₹ crore against Q4FY21 net profit of ₹ crore, logging a time-on- time (YoY) jump of near 65 per cent. Canara Bank’s total income in this period has gone up from ₹ crore in Q4FY21 to ₹ crore, clocking YoY rise of little further than 6 per cent.
The Canara Bank has been suitable to achieve this profitability as its NPA provisioning has come down by further than 50 per cent. Its NPA provisioning in Q4FY22 stands at ₹ crore against its NPA provisioning quantum of ₹ crore in Q4FY21. Still, net vittles of the PSU bank has gone up in Q4FY22 to ₹ crore against ₹ crore in Q4FY21.
Canara Bank also blazoned tip of ₹6.50 all for its shareholders. The PSU bank made this advertisement while participating its Q4FY22 results with Indian exchanges citing,”This is to inform the Stock Exchanges that the Board of Directors of the Bank at its meeting held moment on06.05.2022 (Friday) inter alia has considered and approved the following 1. Checked Financial Results (Standalone and Consolidated) for the Fourth Quarter/ Time ended31.03.2022. 2. Recommend Tip ofRs.6.50/-per equity share ( i.e. 65) of face value ofRs. 10/-each to the shareholders for the time 2021-22, subject to the blessing of Shareholders at the preceding Annual General Meeting of the Bank.”
On the asset quality front, the bank’s grossnon-performing means (NPAs) or bad loans fell to7.51 per cent of the gross advances at the end of March 2022, as against8.93 per cent at the end of March 2021.In value terms, the gross NPAs were worth ₹ crore, down from ₹ crore. Canara Bank share price is moment down by near4.50 per cent but after the advertisement of Q4FY22 results, the banking stock has surged near 1 per cent from its intraday low of ₹212.60 per share situations.
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