Andhra Bank slips ex-dividend

Meanwhile, the S&P BSE Sensex was up 301.99 points, or 1.57%, to 19,596.11.

On BSE, 40,000 shares were traded in the counter as against an average daily volume of 1.72 lakh shares in the past one quarter.

The stock hit a high of Rs 83 and a low of Rs 81.35 so far during the day. The stock had hit a 52-week high of Rs 130 on 8 January 2013. The stock had hit a 52-week low of Rs 78.15 on 25 June 2013.

The stock had underperformed the market over the past one month till 10 July 2013, sliding 1.09% compared with the Sensex's 0.76% fall. The scrip had also underperformed the market in past one quarter, falling 6.83% as against Sensex's 4.78% rise.

The mid-cap company has an equity capital of Rs 559.58 crore. Face value per share is Rs 10.

Before turning ex-dividend, the stock offered a dividend yield of 5.82% based on the closing price of Rs 85.95 on Wednesday, 10 July 2013.

Net profit of Andhra Bank rose 1.45% to Rs 344.58 crore on 15% rise in operating income to Rs 3713.06 crore in Q4 March 2013 over Q4 March 2012.

The Government of India (GoI) holds 58% stake in Andhra Bank (as on 30 June 2013).

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