DCB Bank sets record date for final dividend: Key points to note
2 min read 26 May 2023, 10:27 PM ISTDCB Bank is a small cap private sector bank that closed with a market cap of ₹3,580.42 Cr during Friday's closing session.
PremiumDCB Bank is a small cap private sector bank that closed with a market cap of ₹3,580.42 Cr during Friday's closing session. For the purpose of final dividend for FY23, the bank has fixed record date in order to determine the eligibility of shareholders.
“The Board of Directors of the Bank at its meeting held on May 5, 2023 had recommended a final dividend of ₹1.25/- per equity share of ₹10/- each of the Bank subject to the approval of the members at the ensuing Annual General Meeting (AGM) of the Bank. This is to inform you that the record date for determining the eligibility of Members entitled to receive dividend on equity shares is Thursday, June 15, 2023. Dividend, if approved by the Members of the Bank, shall be paid after the AGM to those members, 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 Thursday, June 15, 2023," said DCB Bank in a stock exchange filing.
The bank reported a 25% rise in profit after tax (PAT) from the fourth fiscal quarter of FY 2022 to FY 2023, from INR 113 Cr. to INR 142 Cr. The bank's net profit grew by 62% to INR 466 Cr for the fiscal year 2023 from INR 288 Cr the year before. The Gross NPA was 3.19% and its net NPA was 1.04% as of March 31, 2023.
The bank said that its net interest income for Q4FY23 was ₹486 Cr, up 27% YoY from ₹380 Cr for Q4FY22, and that for FY23, it was ₹1,717 Cr. The bank stated that for the quarter ended March 2023, it reported a net income of ₹608 Cr, up 22.82% YoY from ₹495 Cr recorded during the year-ago quarter, while for the financial year 2023, it reported a net income of ₹2,126 Cr.
In comparison to Q4 FY22, DCB Bank reported an operating profit of ₹244 Cr as opposed to ₹221 Cr, and ₹787 Cr in FY23. Its net assets increased to ₹52,366 Cr during Q4FY23 from ₹44,793 Cr in Q4FY22. Net deposits for the bank were ₹41,239 Cr during Q4 FY23 as opposed to ₹34,692 Cr in Q4 FY22, while net advances were ₹34,381 Cr as opposed to ₹29,096 Cr in the same quarter of FY22. As opposed to 26.75% in Q4FY22, DCB Bank reported that its CASA ratio was 26.42% in Q4FY23.
The shares of DCB Bank closed today on the BSE at ₹114.90 apiece down by 0.30% from the previous close of ₹115.25.
