Canara Bank Share Split: A Guide to the Stock Split

Canara Bank's share split was announced in 2020, with the bank's board of directors approving a 1:5 stock split. This means that for every five shares a shareholder owns, they will receive five additional shares.

The share split aims to make the stock more affordable for small investors and to increase liquidity in the market. It's a common practice among companies to split their shares, especially if they've experienced significant growth.

The share split ratio for Canara Bank is 1:5, which means that the face value of each share will be reduced from Rs. 10 to Rs. 2.

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The record date for the stock split is May 15, 2024.

Canara Bank will subdivide its existing equity shares in a 1:5 ratio, making each share with a face value of ₹10 into five shares with a face value of ₹2.

The board of directors had approved the stock split proposal on February 26, subject to regulatory approval.

The stock price has nearly doubled in the last one year, from its 52-week low of ₹291.30 touched on May 19, 2023.

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The record date for determining entitlement of equity shareholders for the stock split has been set as May 15, 2024.

This is a crucial date for existing shareholders, as it will determine their entitlement to the new shares that will be issued as a result of the stock split.

Canara Bank has fixed May 15, 2024, as the record date for the purpose of sub division/split of existing equity shares.

The bank's shares will be subdivided in a 1:5 ratio, meaning one equity share with a face value of ₹10 will be divided into five equity shares, each with a face value of ₹2.

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The impact of the Canara Bank share split on shareholders is a crucial aspect to consider.

Shareholders will see a significant increase in the number of shares they own, as the bank plans to split its shares in a 1:5 ratio, meaning one existing share will be replaced by five new shares.

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This means that if a shareholder owns 100 shares before the split, they will own 500 shares after the split.

The split is expected to increase liquidity in the market, making it easier for investors to buy and sell shares.

The bank's decision to split its shares is likely to attract new investors, who may be deterred by the high share price.

The split is expected to make the shares more attractive to retail investors.

The increased liquidity and attractiveness of the shares are expected to boost the bank's stock price in the long run.

The bank's management hopes that the share split will increase the trading volume of the shares.

Canara Bank has set May 15, 2024, as the record date for determining entitlement of equity shareholders for its stock split.

The bank's shares will be subdivided in a 1:5 ratio, where one equity share with a face value of ₹10 will be divided into five equity shares, each with a face value of ₹2.

This stock split is a corporate action aimed at making it more affordable for small retail investors and increasing liquidity.

On Friday, shares of Canara Bank ended at ₹578.70, down 0.83% against the previous closing price of ₹583.55.

The stock price has nearly doubled in the last one year, from its 52-week low of 291.30 touched on May 19, 2023.

Canara Bank hit its 52-week high of 620 on April 8, 2024.

The counter rose 57% in six months and 5% in a month.

The bank's board had approved the stock split proposal on February 26, subject to requisite regulatory approval.