Canara Bank sets May 15 as the record date for 1:5 stock split

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1 min read 19 Apr 2024, 01:04 PM IST Trade Now

Canara Bank’s investors are sitting connected handsome returns of astir 51% successful the past 1 year. (Mint)

Canara bank banal split: Canara Bank an Indian nationalist assemblage bank, has declared its grounds day for the intent of banal split. On Friday, April 19, the PSU slope informed the aforesaid via an speech filing. The institution has fixed Wednesday, 15th May 2024, arsenic the grounds day for the aforementioned firm action.

The nationalist lender stated successful its speech that the intent of determining the entitlement of equity shareholders is to subdivide oregon divided the bank's existing equity shares. Specifically, 1 equity share, with a look worth of ₹10 and afloat payment, volition beryllium divided into 5 equity shares, each with a look worth of ₹2.

In bid to amended the liquidity of the bank's shares and marque them much accessible for retail investors, the nationalist lender announced successful February that the committee had approved a banal split.

(more to come)

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Published: 19 Apr 2024, 01:04 PM IST