Lakshmi Vilas Bank slides ex-dividend

Lakshmi Vilas Bank lost 3% to Rs 69.40 at 11:21 IST on BSE as the stock turned ex-dividend today, 29 July 2013, for dividend of Rs 3 per share for the year ended 31 March 2013.

Meanwhile, the BSE Sensex was down 120.62 points or 0.61% to 19,627.57

On BSE, 26,125 shares were traded in the counter as against average daily volume of 26,316 shares over the past one quarter.

The stock hit a high of Rs 70.05 and a low of Rs 68.95 so far during the day. The stock had hit a 52-week low of Rs 68.30 on 26 June 2013. The stock had hit a 52-week high of Rs 128.35 on 7 January 2013.

The small-cap stock had underperformed the market over the past one month till 26 July 2013, rising 3.62% compared with the Sensex's 6.45% rise. The scrip had underperformed the market in past one quarter, falling 14.92% as against Sensex's 2.39% rise.

The bank has equity capital of Rs 97.53 crore. Face value per share is Rs 10.

Before turning ex-dividend, the stock offered a dividend yield of 4.19% based on the closing price of Rs 71.55 on Friday, 26 July 2013.

Lakshmi Vilas Bank's net profit fell 31.5% to Rs 17.10 crore on 11.7% growth in total income to Rs 520.81 crore in Q4 March 2013 over Q4 March 2012.

Lakshmi Vilas Bank provides a variety of services, including corporate banking, commercial & personal banking, retail banking, NRI services, insurance and development banking through a network of branches. The bank has a strong and wide base in Tamil Nadu.

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