Kotak Bank announces 8.10% dividend on preference share

The Board of Directors of Kotak Mahindra Bank on Saturday declared a dividend of Rs 0.405 per Non-Convertible Perpetual Non-Cumulative Preference Share on the 8.10 per cent Non-Convertible Perpetual Non-Cumulative Preference Shares with a face value of Rs 5 each, the company announced through an exchange filing.

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The bank has fixed March 7, 2023 as the ‘Record Date’ for the purpose of ascertaining the holders of PNCPS eligible to receive the aforesaid dividend. Additionally the company said that the dividend would be subject to withholding tax at the rate prevailing under the applicable law.

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Kotak Bank shares

The shares of Kotak Mahindra Bank on Friday closed at Rs 1,694, up by 1.83 per cent.

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