Financial Daily from THE HINDU group of publications
Tuesday, Jun 08, 2004
Financial Daily from THE HINDU group of publications Tuesday, Jun 08, 2004 |
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Money & Banking
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Bonus Announcements Federal Bank to issue 2:1 bonus Our Bureau
Kochi , June 7 THE Aluva-based Federal Bank has announced a bonus issue at the ratio of 2:1, that is to two bonus shares for every share held by the shareholder. The Director Board of the bank, which met at Kochi today, recommended the issuance of bonus shares. This is the first time that the bank is issuing bonus shares to shareholders. At the end of March 2004, the bank had a paid up capital of Rs 21.76 crore and reserves totalling to Rs 627 crore. The net profit of the bank had gone up to Rs 136.31 crore. The bank had declared a dividend of 70 per cent for last year.
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