"Canara Bank's Growth Story: Empowering Investors with Bonus Shares"



The highlights specifics of the stock split and bonus share distribution. Before the split, Cenara Bank had a total of 739,996 retail investors holding a 6% stake in the bank. Additionally, 337 HNIs (High Net Worth Individuals), including Rekha Rakesh Jhunjhunwala with a 1.45% stake, held a combined 4.65% stake in PSU (Public Sector Undertaking).


As of the latest update, Canara Bank now has 907,06,51,260 shares, compared to the previous 181,41,30,252 shares. Existing shares owned by shareholders were divided into smaller shares with lower nominal values. This division doesn't affect the share capital but provides shareholders with additional shares. The decision to issue bonus shares aims to distribute accumulated earnings among shareholders without cash payments, thereby reducing reserves and increasing share capital.

In conclusion, the stock split and bonus share distribution are strategic financial moves aimed at enhancing shareholder value and improving the bank's financial standing. This aligns with Canara Bank's efforts to maintain stability in net interest margin, lower credit costs, and provide consistent returns on assets, which are crucial factors for maintaining or improving its credit rating.

 

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