Indian Bank falls ex-dividend

Indian Bank slipped 1.56% to Rs 317.80 at 12:03 IST on BSE after the stock turned ex-dividend today, 2 June 2017 for dividend of Rs 6 per share for the year ended 31 March 2017.

Meanwhile, the S&P Sensex was up 137.01 points or 0.44% at 31,274.60

On the BSE, 38,000 shares were traded on the counter so far as against the average daily volumes of 1.61 lakh shares in the past one quarter. The stock had hit a high of Rs 326 and a low of Rs 316.25 so far during the day. The stock had hit a 52-week high of Rs 364.80 on 16 May 2017 and a 52-week low of Rs 90 on 3 June 2016.

 

The stock fell 3.8% over the past one month till 1 June 2017, underperforming the Sensex's 4.08% rise. The scrip had, however, outperformed the market in past one quarter, rising 13.38% as against Sensex's 7.43% rise. The scrip had also outperformed the market in past one year, surging 251.11% as against Sensex's 16.56% rise.

The large-cap bank has equity capital of Rs 480.29 crore. Face value per share is Rs 10.

Before turning ex-dividend, the stock offered a dividend yield of 1.8% based on its closing price of Rs 332.85 on the BSE yesterday, 1 June 2017.

Net profit of Indian Bank rose 241.49% to Rs 319.70 crore on 1.75% growth in total income to Rs 4601.89 crore in Q4 March 2017 over Q4 March 2016.

Government of India currently holds 82.1% stake in Indian Bank (as on 31 March 2017).

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