Canara Bank considering stock split on Feb 26 to boost stock's liquidity

Canara Bank on Wednesday said it is planning split of the equity shares of the state-owned bank to boost the stock's liquidity.

The decision in this regard will be taken by the bank's Board of Directors in a meeting, which is scheduled on February 26, Canara Bank said in a regulatory filing.

The meeting's agenda is "to seek in principle approval from the board of directors for sub-division/split of the equity shares of the bank, subject to prior approval of Reserve Bank of India (RBI) and other statutory/regulatory/Government of India approvals, as may be required," it said.

Shares of the bank were trading 4.16 per cent higher at Rs 542.95 per unit on the BSE.