These 2 Public Bank Stocks Turning To Ex-Dividend Date Today, Check Details

The dividend is paid by a listed company to its shareholders after making profits in the recent quarters, to attract new investors and to benefit the existing shareholders. Here, two PSU bank stocks have been listed that are turning to ex-dividend dates today, on June 22.

PNB

Punjab National Bank (PNB) had announced a final dividend of 32%, on June 11, 2022. The stock's ex-dividend date is today, on June 22, 2022.

PNB's current market price stood at Rs. 29.25 falling by 1.68% till 2.11 pm today. The 52 week high level of this stock is Rs. 48.20, and 52 week low level of this stock is Rs. 28.05. In the past 6 months, its stock price has fallen by 21.90%, in the past 1 year its stock price has fallen by 29.18%. It is a largecap company with a market capitalization of Rs. 32,372 crore.

According to data available with NSE, in Q4 FY22, PNB's Total Income stood at Rs. 21,09,517 lakh, as against Rs. 22,02,602 lakh in the previous quarter. The company's Profit before tax (PBT) was reported at Rs. 41,329 lakh, as against Rs. 1,72,276 lakh in Q3 FY22. Additionally, its Net Profit stood at Rs. 20,157 lakh, as against Rs. 1,12,678 lakh in the earlier quarter.

Union Bank

Union Bank had announced final dividend of 19%, on June 13, 2022. The stock's ex-dividend date is today, on June 22, 2022.

Union Bank's current market price stood at Rs. 34.85 falling by 3.46% till 2.18 pm today. The 52 week high level of this stock is Rs. 54.80, and 52 week low level of this stock is Rs. 32.70. In the past 6 months, its stock price has fallen by 19.59%, in the past 1 year its stock price has fallen by 13.08%. It is a midcap company with a market capitalization of Rs. 23,853 crore.

According to data available with NSE, in Q4 FY22, Pfizer's Total Income stood at Rs. 20,41,744 lakh, as against Rs. 19,45,374 lakh in the previous quarter. The company's Profit before tax (PBT) was reported at Rs. 1,90,202 lakh, as against Rs. 2,54,861 lakh in Q3 FY22. Additionally, its Net Profit stood at Rs. 1,43,960 lakh, as against Rs. 1,08,540 lakh in the earlier quarter.

Nifty PSU bank stock falls marginally: good time to buy?

The Nifty PSU bank index has fallen today marginally, and recovered later. As mentioned above, the PNB and Union Bank have also fallen a marginal fall today. Nifty PSU bank tracks the performances of 12 public banks listed in the. However, Nifty private bank index has also fallen by 1.05% today in the late trading hours. Union Finance Minister Nirmala Sitharaman is having a meeting with the public banks. She will discuss about the performances of these banks. The PSU banks' credit growth, asset quality, capital requirements and etc. are being discussed by the government.

So, the banks' stocks have fallen today. So, for long term growth of share price, the PSU banks stocks can be bought today. Additionally, with the dividend, the stocks of PNB and Union Banks can be checked by investors today.

Disclaimer

Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article.