J&K Bank gains on announcing dividend

The bank has announced a dividend of 500% or Rs 50 per share.

J&K Bank has strengthened on the bourses after announcing a a dividend of 500% or Rs 50 per share. The stock is quoting at Rs 1,930, higher by Rs 42 or 2.2%, on the BSE. 

 

The board of directors, at a meeting held on May 15, 2014, recommended the dividend to the shareholders for the year 2013-14, subject to the approval of shareholders at the Annual General Meeting scheduled to be held on August 02, 2014.

 

The shares had opened at Rs 1899 and have touched a low of Rs 1885 and a high of Rs 1940 thus far.