PNB, BoB, Axis Bank dip on turning ex-dividend today
Shares of Punjab National Bank (PNB), Axis Bank, Canara Bank and Bank of Baroda (BoB) are trading lower by more than 2% each on turning ex-dividend today.
“The Register of Members & Share Transfer Books of these banks will remain closed from June 16, 2012 for the purpose of payment of dividend & Annual General Meetings (AGM)," these banks said in a filing to the stock exchanges.
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The board of directors of PNB has recommended a dividend at the rate of Rs 22 per equity share for the financial year 2011-12. BoB has recommended Rs 17 per share dividend, AXIS Bank (Rs 16 per share) and Canara Bank (Rs 11 per share).
Among individual stocks PNB, BoB and Canara Bank are down 3% each, while Axis Bank is down 2% on the Bombay Stock Exchange. Punjab and Sindh Bank, ING Vysya Bank and Bank of Maharashtra are also trading lower by 1 - 2% on turning ex-dividend today.