Tamilnad Mercantile Bank Limited has informed the Exchange that Board of Directors at its meeting held on April 23, 2025, recommended Final Dividend of Rs. 11 per equity share.
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On the reaction day the stock moved 2.3 pts more than Nifty Microcap 250 and 2.7 pts more than its Private Sector Bank peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The Board of Directors of Tamilnad Mercantile Bank, at its April 23, 2025 meeting, approved the audited financial results for Q4 and FY25 and recommended a final dividend of Rs. 11 per equity share (110% on face value of Rs. 10), subject to shareholder approval at the upcoming AGM. This is a 10% increase over the previous year's final dividend of Rs. 10 per share. The Bank reported a strong FY25 with net profit of Rs. 1,182.61 crores (up ~10.3% YoY from Rs. 1,072.03 crores), total income of Rs. 6,141.75 crores, and EPS of Rs. 74.68 (up from Rs. 67.70). Asset quality improved sharply, with Gross NPA at 1.25% (vs 1.44%) and Net NPA at 0.36% (vs 0.85%), while Capital Adequacy Ratio strengthened to 32.71%. The record date and AGM date will be announced in due course.
A higher dividend combined with healthy profit growth and improving asset quality is a positive signal for shareholders, likely to be viewed favorably by the market. Investors should watch for the upcoming record date announcement to be eligible for the dividend.