Lakshmi Vilas Bank slips ex-dividend

Lakshmi Vilas Bank fell 1.34% to Rs 202 at 10:41 IST on BSE after the stock turned ex-dividend today, 7 July 2017, for dividend of Rs 2.70 per share for the year ended March 2017.

Meanwhile, the S&P BSE Sensex was down 43.74 points, or 0.14% to 31,325.60.

On the BSE, 60,000 shares were traded in the counter so far, compared with average daily volumes of 2.08 lakh shares in the past one quarter. The stock had hit a high of Rs 204.30 and a low of Rs 201.55 so far during the day. The stock hit a record high of Rs 209.80 on 6 July 2017. The stock hit a 52-week low of Rs 101.60 on 7 July 2016.

The stock had outperformed the market over the past one month till 6 July 2017, rising 9.67% compared with 0.31% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 22.72% as against Sensex's 5.60% rise. The scrip had also outperformed the market in past one year, rising 94.81% as against Sensex's 15.32% rise.

The mid-cap company has equity capital of Rs 191.81 crore. Face value per share is Rs 10.

Before turning ex-dividend, the stock offered a dividend yield of 1.32% based on the closing price of Rs 204.75 yesterday, 6 July 2017.

Net profit of Lakshmi Vilas Bank rose 6.30% to Rs 52.16 on 14% rise in operating income to Rs 864.99 crore in Q4 March 2017 over Q4 March 2016.

Lakshmi Vilas Bank is a full-fledged commercial bank. Its operations are spread over a network of 504 branches (plus 7 extension counters) with pan-India presence, supervised by 11 regional offices.

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