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Saturday, July 20, 2013

IOB hands over dividend cheque to Finance Minister

Indian Overseas Bank has paid a dividend of Rs 136.39 crore to the Central Government for financial year 2012-13.

The dividend warrant cheque was handed out to the Union Finance Minister P Chidambaram by IOB Chairman and Managing Director, M. Narendra, in the Capital on Thursday.

The Centre currently holds 73.80 per cent stake in IOB.

The board of directors of IOB had in April this year recommended 20 per cent dividend (Rs 2 on equity shares of Rs 10 each) on equity shares of the company for the financial year 2012-13.

IOB had not paid any interim dividend for 2012-13.

Source: thehindubusinessline


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