This government bank will give a dividend of Rs 4.75, 6.41% of the share price also increased in a huge decline

Public sector The Net Profit of Union Bank of India increased by 50 percent to Rs 4985 crore in the January-March quarter of the last financial year. Union Bank’s net profit was Rs 3311 crore in the same quarter of FY 2023-24. The total income of the bank increased to Rs 33,254 crore in the March quarter of the last financial year 2024-25, compared to Rs 31,058 crore in the same quarter of a year ago. A senior bank official said on Friday that the repoic rate of repo rate by the Reserve Bank of India (RBI) will lead to pressure on the bank’s net interest margin.

Pure interest income is almost stable at Rs 9514 crore

The bank reported in the information to the stock market that its main net interest income in the March quarter was almost stable at Rs 9514 crore. Non-onion income during this period increased from 18 percent to Rs 5556 crore. During this period, the financial provision of the bank declined by 16 percent to Rs 2715 crore, which has increased its profit.

Board recommended a dividend of Rs 4.75

Union Bank of India said in the exchange filing that the Board of Directors have recommended the dividend for the financial year 2024-25. Union Bank board has recommended a dividend of Rs 4.75 on each stock with a face value of Rs 10. However, it will be paid to shareholders only after getting approval for dividend.

A tremendous rise in bank shares on Friday

On Friday, when several banking stocks were recorded drastically, on the other hand, the stocks of Union Bank saw a strong jump today. Today, Union Bank of India shares on BSE rose by 6.41% (Rs 7.40) to close at Rs 122.85. However, Union Bank shares are still far below their 52 weeks high. The 52 week high of this government bank shares is Rs 172.45 and 52 weeks is Rs 100.75.

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