Punjab National Bank announced today PNB Q4 results 2024 surged by a remarkable 160 percent to Rs 3,010.27 crore. Compared to the previous quarter, the state-run bank saw a significant 35 percent increase in net profit.
During this reporting period, the bank’s gross non-performing assets (NPA) ratio improved to 5.73 percent, down from 6.24 percent in the previous quarter and 8.74 percent last year. Similarly, its net NPA decreased to 0.73 percent as of March 31, 2024, compared to 0.96 percent in the previous quarter and 2.72 percent a year ago.
PNB Dividend
Punjab National Bank (PNB), a leading state-owned banking institution, has revealed an enticing dividend declaration as part of its Q4 financial report. The board’s proposal of a significant 75% dividend per share marks a remarkable achievement for the bank, representing its most substantial dividend payout in nearly a decade.
Insight into Dividends:
Understanding the Importance of Dividend Distribution
Dividends stand as tangible rewards provided by companies to their shareholders, recognizing their investment and loyalty. Typically sourced from profits, dividends underscore a company’s commitment to delivering value to its investors.
PNB Dividend 2024 Breakdown:
A detailed Analysis of PNB’s Dividend Announcement
With PNB shares currently valued at Rs 2 each, the proposed 75% dividend translates to an impressive Rs 1.50 per share payout. According to PNB’s official filing, the dividend is recommended at Rs 1.50 per equity share, constituting 75% of the face value of Rs 2 each for the fiscal year 2023-24.
Key Dates for PNB Dividend 2024:
Understanding the Significance of Record Dates
While awaiting shareholder approval at the upcoming Annual General Meeting, the dividend’s confirmation is contingent upon regulatory processes, as clarified by PNB in its filing. The specific record date, crucial for determining shareholders’ eligibility for upcoming corporate actions, is yet to be disclosed by the bank.
PNB Q4 Results 2024:
A Closer Look at PNB Q4 Results 2024
PNB experienced a notable 160% Year-over-Year surge in net profit for the fourth quarter, reaching an impressive Rs 3,010.27 crore. Additionally, the bank observed a significant 35% sequential increase in net profit. Important financial metrics include a 9% Year-over-Year growth in net interest income, alongside gross non-performing assets at 5.73% and net NPA at 0.73% as of March 31, 2024.
Reviewing PNB's Dividend History:
Charting PNB’s Dividend Evolution
This latest dividend distribution signifies a significant milestone, marking the highest dividend payout by PNB in the past nine years. In comparison, dividends for the fiscal years 2023 and 2022 amounted to Rs 0.65 and Rs 0.64 per share, respectively. Prior to this, PNB rewarded its shareholders with a substantial dividend of Rs 3.30 per share.
PNB's Stock Performance Overview:
Analyzing PNB’s Market Performance
As a constituent of the S&P BSE 200 index, PNB shares have exhibited commendable growth, with a 28% surge in 2024 thus far. Over the past six months, investors have enjoyed a positive return of 64%, while the one-year and two-year returns stand at impressive rates of 149% and 273%, respectively. Trading within a 52-week range of Rs 142.90 to Rs 47.90 on the BSE, PNB currently boasts a market capitalization of Rs 1,36,756.81 crore.
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