Dividend Stocks 21 May 2024 📈💰
Ujjivan Small Finance Bank has announced its results for the January-March quarter, bringing good news to its shareholders. The bank declared a dividend for the quarter, giving its shareholders a reason to rejoice. After announcing the quarterly results, the board of directors of Ujjivan Small Finance Bank also announced a dividend for the shareholders. Shareholders will receive a final dividend of ₹1.50 per share. The stock was trading at ₹53.0 with a 0.75% decline on Tuesday (21 May 2024).
Ujjivan Small Finance Bank reported a 6.5% increase in net profit to ₹329.60 crores for the fourth quarter of 2023-24. This is an improvement from the ₹309.50 crores net profit earned in the same quarter of the previous financial year. The bank’s net interest income increased by 26.40% to ₹933 crores in the quarter under review from ₹738 crores in the corresponding quarter last year. The bank’s NPA ratio improved from 2.18% in the December quarter to 2.23%.
The total NPA for the quarter increased to ₹612.50 crores from ₹570.70 crores. The bank distributed ₹6,681 crores in the quarter, which is 11% higher than the same quarter last year. The annual distribution was ₹23,389 crores, showing a 17% increase compared to the previous year.
Deposits increased to ₹31,462 crores in the March quarter. There was a 23% year-on-year increase and a 6% quarter-on-quarter increase in deposits. Current account savings account deposits increased by 24% year-on-year and 10% quarter-on-quarter, totaling ₹8,335 crores.
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