Utkarsh Small Finance Bank has set the record date for its final dividend and also revealed the dates for its AGM.
As per the details shared with the stock market, the bank conducted a board meeting on the evening of June 15, during which a decision was made regarding these two dates.
The bank shared its quarterly results in late April, announcing a dividend along with the results.
Recently, the record date for the dividend has also been disclosed.
What information has the bank given?
As per the information shared with the stock market, the bank has set July 12, 2024, as the record date for the final dividend.
During the meeting on April 26, 2024, the bank declared a final dividend of Rs 0.5 per share for its investors.
Additionally, the bank announced that its AGM is scheduled for July 22, 2024.
Moreover, in the meeting held on Saturday, the bank approved an increase in its authorized share capital.
How has been the performance of the stock and the bank?
In the March quarter, SFB’s profit surged by 19% to Rs 160 crore. Operating profit also saw a substantial increase, rising by 35% to Rs 282 crore.
Net interest income jumped by 32% to Rs 540 crore.
The bank’s asset quality showed improvement during this period.
However, the stock’s performance has been lackluster.
It saw a modest 3% increase in a week but has had a minimal return of less than one percent for the year 2024 so far.
On Friday, the stock closed around 54 level, marking a slight gain of 0.2%.
