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Corporation Bank Q4 net up 26%, declares 80% dividend

Corporation Bank Q4 net up 26%, declares 80% dividend
PTI
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First Published: Fri, Apr 24 2009. 02 35 PM IST
Updated: Fri, Apr 24 2009. 02 35 PM IST
Mumbai: Public sector lender Corporation Bank on Friday said its net profit grew 26.18% to Rs260.49 crore in the fourth quarter ended 31 March, 2009, over the corresponding period a year ago.
The lender had a net profit of Rs206.43 crore in the March quarter last financial year, Corporation Bank said in a filing to the stock exchanges.
During the fourth quarter of FY’09, the total income of the bank rose to Rs2,199.64 crore from Rs1,464.74 crore in the same quarter previous year.
Meanwhile, Corporation Bank announced a final dividend of 80% or Rs8 for each share.
For the financial year ended 31 March, 2009, Corporation Bank posted a net profit of Rs892.76 crore, registering a growth of 21.46%, compared to Rs734.98 crore last fiscal.
Total income during the full fiscal 2008-09 rose to Rs7,174.56 crore from Rs5,216.33 crore in FY’08, the bank said.
Shares of Corporation Bank were trading at Rs223.95, up 1.66% in the afternoon trade on the BSE.
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First Published: Fri, Apr 24 2009. 02 35 PM IST