UTI Bank recommends 35 pc dividend

Mumbai, June 2 (UNI) UTI Bank has approved payment of dividend at 35 per cent, equivalent to Rs 3.50 per equity share of Rs 10 each.

Announcing this to BSE, the bank said the dividend warrants have been dated and will be payable from tomorrow.

Further, the company would allot and offer additional equity stock options convertible into equity shares of the aggregate nominal face value not exceeding Rs 4,80,00,000, to the present and future employees and directors of the bank, under an employee stock option plan.

It has also passed a resolution pursuant to section 293(1)(d) and all other applicable provisions of the Companies Act, 1956, according to approval of the borrowings by the board of the bank, up to Rs 20,000 crore from time-to-time.

The decisions were taken by the members of the bank at the 12th annual general meeting (AGM) of the bank held today.

UNI SN GK AG1646