Canara Bank, a government-owned bank has proposed giving a dividend of Rs 16.10 per share to its shareholders for the year. This plan will need approval from the shareholders during their major annual meeting. The date set to record who is eligible for this dividend is June 17.
The bank also announced its financial results for January to March this year. It reported a profit of Rs 3,757.23 crore which is an 18.4% increase from the same period last year. The profit also grew by 2.8% compared to the last quarter of the previous year.
On May 8, the stock price of Canara Bank fell by 3.41% ending the day at Rs 557.20 per share on the stock market.
