Union Bank pays Rs 98 cr dividend to Govt

New Delhi, July 4: One of the country's leading public sectorbanks, Union Bank of India, today said it has paid a dividend of Rs 98crore to the Central Government.

The bank declared a dividend of 35 per cent for the year 2006-07,15 per cent being interim and 20 per cent final, it said in a statement.

The Bank Chairman and Managing Director M V Nair handed over thecheque for Rs 56 crore, being 20 per cent final dividend, to FinanceMinister P Chidambaram here.

Union Bank of India had made an operating profit of Rs 2,001 crorefor the year 2006-07, recording a growth of 36.49 per cent over theprevious year, and 25.19 per cent growth in its net profit at Rs 845crore against last year.

UNI