Rs 50/Share Dividend, 1:10 Split: Bank Stock Under Rs 155 To Consider Dividend Soon, Buy?

Leading private sector bank, Jammu & Kashmir Bank Ltd will hold meeting of Board of Directors on May 4, 2024 to consider financial results and recommend dividend, if any for the financial year ended March 31, 2024. Current market price of Jammu & Kashmir Bank share on BSE is Rs 132.45 per share with intraday gain of 0.15%. In last few years, JK Bank share price witnessed attractive rally. Jammu & Kashmir Bank price offered shareholders solid 148% return in last 1-year. Jammu & Kashmir Bank declared its highest dividend of Rs 50/share in 2014 and 2013, respectively. The bank has a market capitalisation of Rs 14,585.16 crore. More details below:

Jammu & Kashmir Bank To Declare Financial Results, Dividend: As per the regulatory filing of the company dated April 26, 2024, "Board of the Bank will meet on Saturday, May 04, 2024 inter-alia to:

(a) consider and approve the Audited Standalone and Consolidated Financial Results of the Bank for the Quarter and Financial Year ended 31st March, 2024; and

(b) recommend dividend on equity shares, if any, for the year ended 31st March, 2024."

Jammu & Kashmir Bank Dividend History: Jammu & Kashmir Bank announced 18 dividends since May 17, 2001. In the past 12 months, Jammu & Kashmir Bank Ltd announced an equity dividend amounting to Re 0.50 per share. At the current share price of Rs 133.0000, Jammu & Kashmir Bank offers a dividend yield of 0.38%.

Jammu & Kashmir Bank Stock Split History: Jammu and Kashmir Bank last split its face value of shares from Rs 10 to Rs 1 in 2014. The share traded ex-split from September 04, 2014.

Should You Buy Jammu & Kashmir Bank? SBI Securities, in its report dated March 7, 2024, assigned buy call to Jammu & Kashmir Bank share with target price of Rs 171.9 per share. According to the analyst, "credit growth trajectory is improving in the state with soaring activities in the tourism, horticulture, MSME, and infrastructure segment. The overall credit growth in the J&K state is likely to remain in the range of 15%-17%."

Jammu & Kashmir Bank Share Performance & Return: 52-week high price of Jammu & Kashmir Bank share on BSE is Rs 152.45 per share (as on 09/02/2024) and 52-week low price is Rs 52.61 per share (as on 27/04/2023), respectively. Jammu & Kashmir Bank share offered stunning return of 325% in last 2-years, gained 477% in last 3-years, and soared 110% in last 5-years.

Jammu & Kashmir Bank Financials: Jammu & Kashmir Bank on January 20, 2024 declared a surge of 35% in its net profit to Rs 421 crore for Q3 ended December 31, 2023 amid fall in bad loads and growth in core income. The private sector bank declared a net profit of Rs 311 crore for Oct-Dec quarter of 2022. Total income of Jammu & Kashmir Bank soared to Rs 3063 crore for the Q3 ended December 31, 2023 as against Rs 2682 crore for the corresponding quarter of last year.

Disclaimer:

The stock has been picked from the brokerage report of SBI Securities. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.