Indian Bank board recommends dividend of Rs1.50/share for FY16

Indian Bank today said its board has recommended payment of dividend of Rs 1.50 (15 per cent) per equity share of face value of Rs 10 each for 2015-16.
"...The Board of Directors of the bank has recommended for payment of dividend of Rs 1.50 (15 per cent) per equity share of face value of Rs 10 each for the year 2015-16, subject to declaration of the same by the shareholders of the Bank in the Annual General Meeting and that the dividend, if declared will be paid within 30 days from the date of the AGM," the bank said in a BSE filing.

"Consequent to the declaration of the said dividend by the shareholders in the 10th AGM held on June 29, 2016, the dividend so declared will be paid to all the eligible shareholders of the Bank on July 22, 2016," it added.