In February, the bank’s board had approved splitting existing shares of face value of Rs 10 each into 5 shares having a face value of Rs 2 each, fully paid up, ranking pari-passu in all respects, Canara Bank said in a regulatory filing.
The Reserve Bank of India (RBI) gave its go-ahead for stock split on April 16, 2024, it said.
Shares of Canara Bank were trading at Rs 577.15 apiece, down 1.10 per cent on the BSE in the afternoon trade. The government owns 62.93 per cent stake in Canara Bank, while public shareholders own the rest.