Q4 Results: This bank issued a 215% dividend, made history, and made enormous profits.
The results of the Jammu and Kashmir Bank are now available. Exchange records show that in the fiscal year 2023–2024, the private bank made its largest-ever yearly profit of Rs 1,767 crore. Its net profit for the current fiscal year has climbed by 48 percent. From Rs 476.33 crore in the same quarter last year to Rs 638.67 crore in Q4FY24, the bank’s earnings climbed by 34%. Additionally, their quarterly profits represent the highest level in history.
J&K BANK Q4 Results, Dividend:
The exchange report states that net profit for FY23–24 increased by 48% to Rs 1,767 crore, surpassing the record profit made the previous year. The bank’s overall revenue increased from Rs 5,502.09 crore to Rs 6,029.17 crore, a 10% increase. The previous fiscal year had seen a profit of Rs 1,197 crore for the company.
J&K Bank Announces Stellar Growth and Highest-Ever Dividend!
J&K Bank is on a roll! The bank’s deposits surged by a whopping 10.44% to ₹1,34,774 crore in the year ending March 2024, compared to ₹1,22,037 crore the previous year. That’s a significant increase in the money people are trusting J&K Bank with!
But that’s not all. J&K Bank also saw a healthy 14% jump in net advances, reaching ₹93,762 crore in the last quarter (FY 2023-24) from ₹82,285 crore the year before. This means the bank is actively lending out more money, which can boost the economy.
J&K Bank Shares the Good News with Shareholders!
J&K Bank isn’t just celebrating its success; it’s sharing the good news with its shareholders! The bank is set to pay out its highest-ever dividend of ₹236.75 crore this year. That’s like a big thank you gift to the people who have invested in J&K Bank.
Here’s the sweetest part: J&K Bank declared a dividend of ₹2.15 per share, which translates to a whopping 215% on the face value of ₹1. That’s a great return for shareholders!
Overall, this is positive news for J&K Bank and its investors. The bank’s strong growth and commitment to rewarding shareholders make it an attractive option for those looking for a stable and rewarding investment.
J.K. Bank History of Share Prices:
On Friday, the stock finished at 139.25, up 0.43 percent. The 52-week high and low for the stock are 152.45 and 53.05. The market value of the bank is Rs 15,333.97 crore. In terms of stock returns, within the past year it has produced a multibagger return of 125%. In contrast, the stock’s return in two years is 355%, and in three years it is 480%.
