Canara Bank Stock Split: Board to Decide on Feb 26

Feb 07, 2024 11:25

Canara Bank's board will meet on February 26 to consider a stock split, aiming to increase liquidity. The decision is subject to RBI approval.

New Delhi, Feb 7 (PTI) Canara Bank on Wednesday said it is planning split of the equity shares of the state-owned bank to boost the stock's liquidity.

The decision in this regard will be taken by the bank's Board of Directors in a meeting, which is scheduled on February 26, Canara Bank said in a regulatory filing.

The meeting's agenda is "to seek in principle approval from the board of directors for sub-division/split of the equity shares of the bank, subject to prior approval of Reserve Bank of India (RBI) and other statutory/regulatory/Government of India approvals, as may be required," it said.

Shares of the bank were trading 4.16 per cent higher at Rs 542.95 per unit on the BSE.

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Canara Bank Stock Split: Board to Decide on Feb 26

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