Punjab National Bank’s board of directors today recommended a dividend payout of Rs 27 per share i.e. 270 per cent (equity share face value Rs 10) for the FY 2012-13.
The payout is Rs 5 higher than the dividend paid in the previous year when the bank paid Rs 22 per share (220 per cent).
The stock has shot up 4.97 per cent or Rs 37.20 to Rs 786.40 in the BSE after the bank came out with its Q4 results for 2012-13 just a while back.