Canara Bank Announces 15 May 2024 As Record Date For Stock Sub-Division Or Stock Split

Canara Bank Stock Split: Leading public sector bank Canara Bank has announced a record date for stock split to make its shares affordable for small investors. Canara Bank said that May 15, 2024 has been fixed as the record date for stock split. Investors who hold Canara Bank shares till May 15 will get the benefit of sub-division in shares.

In the regulatory filing filed with the stock exchange, Canara Bank said that the record date has been fixed for sub-division or split of shares. Wednesday, May 15, 2024 has been fixed as the record date for sub-division of shares with face value of Rs 10. Investors who hold Canara Bank shares till this date will be the beneficiaries of sub-division and split in the stock.

Canara Bank said that one share with face value of Rs 10 will be divided into five shares with face value of Rs 2 each. After getting approval for sub-division of shares from the banking sector regulator Reserve Bank of India, Canara Bank has set a record date for stock split.

Earlier, on 26 February 2024, a meeting of the board of Canara Bank was held in which the board of the bank had approved the sub-division of face value stock of Rs 10. While giving clarification on the reasons for stock split of Canara Bank, Canara Bank had said, this decision will help in increasing the supply of Canara Bank shares in the market. And with the rise in stock price after sub-division, the stock will become affordable for retail investors. This will help in increasing the number of retail investors among the shareholders of Canara Bank.

Amid the announcement of record date of sub-division of Canara Bank stock, the share is trading at Rs 582 with a decline of 0.25 percent. Canara Bank has proved to be a multibagger stock for its shareholders. The stock has given returns of 33 percent in 2024, 55 percent in 6 months, 97 percent in one year, 150 percent in 2 years and 350 percent in 3 years.

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