Punjab National Bank’s share price will be of interest on Thursday as it is the last day to buy the stock to qualify for dividend payment. The record date for dividend payment is June 20, the bank informed exchanges on June 13.
As India follows T+1 settlement system, anyone buying shares of Punjab National Bank on June 20 will not be eligible to receive dividend.
The expected dividend is Rs 2.9 per share, and the payment date is on July 10, as per information on Cogencis. However, the public-sector bank will take final decision regarding dividend amount during its annual general meeting, which is scheduled to be held on June 27.
PNB Q4 Standalone Performance
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Net interest income rose 4% year-on-year to Rs 10,757 crore from Rs 10,363 crore.
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Gross NPA fell to 3.95% quarter-on-quarter from 4.09%.
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Net NPA remained flat quarter-on-quarter at 0.40% vs 0.41%.
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Net profit rose 52% year-on-year to Rs 4,567 crore from Rs 3,010 crore.
Punjab National Bank share price settled 0.32% down at Rs 105.54 apiece on Wednesday, compared to a 0.17% decline in the NSE Nifty 50.
The stock declined 17.78% in 12 months, and 2.63% on year to date basis.
Out of 20 analysts tracking the company, 10 maintain a ‘buy’ rating, four recommend a ‘hold’ and six suggest ‘sell’, according to Bloomberg data. The average 12-month consensus price target implies an upside of 6.2%.
. Read more on Markets by NDTV Profit.The expected dividend is Rs 2.9 per share, and the payment date is on July 10, as per information on Cogencis. Read MoreMarkets, Business, Notifications
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