Corporation Bank lost 5.43% to Rs 402.35 at 11:55 IST on BSE as the stock turned ex-dividend today, 31 May 2013, for dividend of Rs 19 per share for the year ended 31 March 2013.
Meanwhile, the S&P BSE Sensex was down 226.44 points or 1.12% at 19,988.96.
On BSE, 12,000 shares were traded in the counter as against average daily volume of 20,983 shares in the past one quarter.
The stock hit a high of Rs 408.90 and a low of Rs 399.90 so far during the day. The stock had hit a 52-week low of Rs 362.05 on 30 August 2012. The stock had hit a 52-week high of Rs 494.85 on 7 January 2013.
The stock had outperformed the market over the past one month till 30 May 2013, surging 12.49% compared with the Sensex's 3.65% rise. The scrip had, however, underperformed the market in past one quarter, jumping 6.71% as against Sensex's 7.18% surge.
The mid-cap public sector bank has equity capital of Rs 152.91 crore. Face value per share is Rs 10.
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Before turning ex-dividend, the stock offered a dividend yield of 4.46% based on the closing price of Rs 425.45 on Thursday, 30 May 2013.
Corporation Bank's net profit rose 1.2% to Rs 355.53 crore on 15.6% growth in total income to Rs 4635.50 crore in Q4 March 2013 over Q4 March 2012.
The Government of India holds 59.82% stake in Corporation Bank (as per the shareholding pattern as on 31 March 2013).
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