Dhyanshu
The latest news on Jammu & Kashmir Bank regarding dividends, crores (rupees), and profits is very positive! Here’s a breakdown:
- Record Profits: This signifies that the profit of Rs. 1,767 crore is the highest Jammu & Kashmir Bank has ever made in a single financial year. This surpasses all their previous annual profits.
- Rs. 1,767 Crore Profit: This is a substantial amount of money earned by the bank in the financial year.
- Financial Year 2023-24: This specifies the period for which this record profit was achieved. Financial year refers to the annual accounting period followed by a company.
- 48% Increase: This highlights a significant jump in profits compared to the previous year. The bank’s profitability has grown by nearly half compared to the financial year 2022-23.
- Dividend Payout: To celebrate these record profits, the bank’s board recommended a dividend of Rs. 2.15 per equity share, which translates to a 215% payout on the face value of Re 1. This means a significant portion of the profit will be shared with shareholders.
In simpler terms, Jammu & Kashmir Bank has had a banner year financially. They earned more money in 2023-24 than ever before, with profits nearly doubling those of the previous year. This indicates strong financial health and performance for the bank.
Here are some resources for further reading (avoiding URLs):
- Search for “Jammu and Kashmir Bank Q4 Results” to find news articles about their recent earnings report.
- You can also search for “JK Bank dividend 2024” to find news about the specific dividend announcement.
