Allahabad Bank tumbles ex-dividend

Meanwhile, the S&P BSE Sensex was down 152.34 points, or 0.78%, to 19,415.88.

On BSE, 95,000 shares were traded in the counter as against an average daily volume of 2.15 lakh shares in the past one quarter.

The stock hit a high of Rs 118.45 and a low of Rs 116.40 so far during the day. The stock had hit a 52-week high of Rs 190.80 on 18 January 2013. The stock had hit a 52-week low of Rs 103 on 22 August 2012.

The stock had underperformed the market over the past one month till 5 June 2013, sliding 6.34% compared with the Sensex's 0.04% fall. The scrip had also underperformed the market in past one quarter, falling 12.05% as against Sensex's 2.22% rise.

The mid-cap bank has an equity capital of Rs 500.03 crore. Face value per share is Rs 10.

Before turning ex-dividend, the stock offered a dividend yield of 4.86% based on the closing price of Rs 123.40 on Wednesday, 5 June 2013.

Allahabad Bank's net profit fell 68.48% to Rs 126.15 crore on 5.60% increase in total income to Rs 4776.90 crore in Q4 March 2013 over Q4 March 2012.

The Government of India (GoI) holds 55.24% stake in Allahabad Bank as per the shareholding pattern as on 31 March 2013.

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