BackBank of Maharashtra revises record date for dividend: Check new date here
The PSU-lender Bank of Maharashtra has recommended a dividend of Rs. 1.30/- per share for the financial year 2022-23.
PremiumThe PSU-lender Bank of Maharashtra has recommended a dividend of Rs. 1.30/- per share for the financial year 2022-23. For the purpose of the same, the Board of Directors have revised the record date from Friday, 2nd June to 23rd May, 2023.
“We have informed that the Board of Directors had fixed 2nd June, 2023 as the Record date for the purpose of payment of dividend on the equity shares to be declared in the Annual General Meeting (AGM) to be held on 9th June 2023. The Board of Directors of the Bank has now decided to change the Record Date from 2nd June 2023 to 23rd May, 2023. Dividend, if declared at the AGM shall be paid to those shareholders, whose names appear in the Bank's Register of Members/ Register of Beneficial Owners maintained by the Depositories viz., National Securities Depository Limited and Central Depository Services (India) Limited as at the close of business hours on Tuesday, 23rd May, 2023," said Bank of Maharashtra in a stock exchange filing.
The net profit for the quarter that ended in March (Q4FY23) grew by more than 135% to ₹840 crore from ₹355.2 crore in the same period the previous year. In the same quarter last year, the PSB's net interest income (NII), which was ₹1,612 crore, jumped by more than 35% to ₹2,187 crore. According to the bank, its provisions increased by more than 60% from ₹582 crore in Q4FY22 to ₹945 crore in Q4FY23. Net non-performing assets (NNPA) plummeted from 0.47% to 0.25%, a fall of 22 basis points on a YoY basis, while its gross non-performing asset (GNPA) dropped from 2.94% in Q4FY22 to 2.47% in Q4FY23.
The shares of Bank of Maharashtra closed today on the NSE at ₹30.15 apiece down by 0.66% from the previous close of ₹30.35. The stock touched a 52-week-high of ₹36.25 on (15-Dec-2022) and a 52-week-low of ₹15.00 on (20-Jun-2022). During Q4FY23, Bank of Maharashtra reported a promoter shareholding of 90.97%, FIIs stake of 0.26%, DIIs stake of 3.33% and a public stake of 5.44%.
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