Canara Bank pays highest ever Dividend of Rs 210cr to Govt

New Delhi, Aug 1 (UNI) Canara Bank today paid Rs 210 crores to the Government, its highest ever Dividend, for the Financial Year 2006-07 (FY0607).

Chairman and Managing Director of the Bank M B N Rao presented the cheque amounting to Rs 210 crores to the Finance Minister P Chidambaram, the bank said in a statement here.

The Bank achieved its highest ever net profit of Rs 1,421 crores for the FY0607. With the growth in profitability, Canara Bank has declared a dividend of 70 per cent, the highest since it went public, as compared to 66 per cent dividend declared for the FY0506, the statement added.

UNI