1st dividend declared in last 9 years by THIS bank stock under Rs 100

1st dividend declared in last 9 years by this bank stock under rs 100 | uco bank

Bank stock under Rs 100: A PSU bank has declared a dividend for its shareholders after a gap of nine years. The bank had earlier declared a dividend in 2015. The upcoming monetary reward will be the lowest one ever from the bank.

The bank stock under discussion is UCO Bank. The bank is a constituent of S&P BSE 200 and boasts a market cap of Rs 68,555.46 crore, as of April 30’s closing price of Rs 57.30 on NSE.

UCO Bank Dividend 2024

UCO Bank has declared a dividend of Rs 0.28.

“We inform that the Board of Directors of the Bank in their meeting dated29.04.2024 has recommended dividend of Rs.0.28 per equity share i.e. 2.80% offace value of Rs. 10/- each for the financial year 2023-24,” the bank announced in an exchange filing.

UCO Bank Dividend 2024 Record Date

The PSU Bank has fixed the record date as May 10 for determining the eligibility of shareholders who would be entitled to receive the dividend.

“Record date for payment of dividend on equity shares has been fixed on Friday, 10th May, 2024 (at the close of business hours). The payment of dividend is subject to the approval from the shareholder in the ensuing Annual General Meeting of the Bank,” the bank said.

UCO Bank Dividend History, Yield

UCO Bank has last declared a dividend of Rs 2 in 2015. Prior to that, in 2014, the bank had declared two dividends – Rs 2 and Re 1. In 2013, Rs 1.6 was declared. UCO Bank declared dividends of Rs 3 each in 2011 and 2012, which is the highest-ever dividend declared by the bank.

The bank has declared dividends a total of 12 times in its history.

UCO Bank Share Price History

UCO bank’s shares have gained 4.33 per cent in the last week, according to BSE Analytics. In the past one, three, and six months, the PSU bank delivered returns of 9.80 per cent, 31.09 per cent, and 54.76 per cent.

In the last one year, the PSU Bank’s shares surged 90.5 per cent, and in last two and three years, they rallied 383 per cent and 420 per cent.

UCO Bank Q4 Results 2024

• UCO Bank’s net profit fell by 9.5 per cent year-on-year (YoY) to Rs 526 crore in the March quarter.
• Full-year net profit also decreased to Rs 1,654 crore from Rs 1,862 crore in the previous fiscal year.
• Operating profit for the quarter decreased to Rs 1,273 crore from Rs 1,357 crore.
• Total provisions and contingencies slightly increased to Rs 467 crore from Rs 451 crore.
• Provisions for bad loans decreased by 44 per cent to Rs 227 crore.
• Operating expenses surged by nearly 30 per cent to Rs 2,039 crore, primarily due to a 46 per cent rise in employee costs to Rs 1,543 crore.
• Net interest income increased by 11 per cnet to Rs 2,188 crore.
• Gross advances rose by 15.62 per cent to Rs 1.87 lakh crore, while total deposits grew by 5.5 per cent to Rs 2.63 lakh crore.
• Asset quality improved, with gross non-performing assets ratio decreasing to 3.46 per cent from 4.78 per cent a year ago.
• Net NPA improved to 0.89 per cent from 1.29 per cent, with the provision coverage ratio rising to 95.38 per cent from 94.50 per cent.

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