Dividend paying shares: Two public sector banking shares Punjab Nationwide Financial institution (PNB) and Union Financial institution of India are turning ex-dividend shares as we speak. As per the knowledge obtainable on official BSE web site, the board of administrators of PNB has introduced a dividend of ₹0.64 per fairness share for the monetary yr 2021-22 whereas Union Financial institution of India has introduced a dividend of ₹1.90 per fairness share for FY22. The Union Financial institution has introduced dividend after a spot of 6 years whereas PNB has introduced dividend after a spot of seven years.
PNB knowledgeable Indian exchanges concerning the dividend cost citing, “The Board of Administrators has additionally advisable Dividend of Re. 0.64 per fairness share (i.e. 32%) of face worth of two/- every to the Shareholders of the Financial institution for the yr 2021-22, topic to the approval on the ensuing Annual Basic Assembly of the Financial institution.” In a while, PNB knowledgeable Indian bourses that report date for finalising eligible shareholders for dividend cost has been mounted on twenty third June 2022.
As PNB share value as we speak is ₹29.85 per share and dividend introduced is ₹0.64 per fairness share, PNB’s present dividend yield is round 2.15 per cent.
Equally, Union Financial institution of India knowledgeable Indian bourses about dividend cost suggestion citing, “That is to tell that the Board of Administrators of the Financial institution in its assembly right here as we speak i.e., Could 26, 2022 has accorded approval to convene the twentieth Annual Basic Assembly (AGM) of the shareholders of the Financial institution via Video Conferencing (VC) or Different Audio Visible Means (OAVM) on Thursday, June 30, 2022 at 11.00 a.m. l5T at Central Workplace, Mumbai (deemed venue) to declare Dividend of ₹l.90 per Fairness Share for the Monetary 12 months 2021-22.” The report date for dividend cost has mounted on twenty third June 2022.
As Union Financial institution share value as we speak is ₹36 per share and the dividend introduced of ₹1.90 per fairness share, Union Financial institution’s present dividend yield stands at whopping 5.27 per cent.
In Q4FY22 outcomes, PNB reported a 66 per cent dip in its standalone internet revenue, which stood at ₹202 crore. The state-owned financial institution stated that decline in internet revenue was resulting from greater provisioning, even because the NPA ranges declined. In Q4FY21, PNB had posted a internet revenue of ₹586 crore. Nonetheless, for FY22, PNB reported a internet revenue of ₹3,456.96 crore that stood at ₹2,021.62 crore in FY21.
Whereas asserting the Q4FY22 outcomes, Union Financial institution of India reported 8.3 per cent year-on-year (YoY) rise in internet revenue. The state-owned financial institution knowledgeable that internet revenue went up resulting from strong development in internet curiosity earnings.
Supply: Live Mint