Money & Banking

Bank of Maharashtra’s board recommends 5 per cent dividend

Our Bureau | Updated on: May 26, 2022

The Board of Directors of Bank of Maharashtra (BoM) on Wednesday recommended a dividend of ₹0.50 per equity share of face value of₹10 each to the shareholders for FY22.

Following the declaration of dividend, the capital adequacy ratio (CAR) of the Pune-headquartered public sector bank has gone down 37 basis points from 16.85 per cent when the fourth quarter results were declared on April 28 to 16.48 per cent.

Within CAR, the common equity tier-1 capital has declined 38 basis points from 12.55 per cent to 12.17 per cent.

The bank said the dividend is subject to shareholder’s approval in ensuing Annual General Meeting.

BoM had reported a 115 per cent year-on-year jump in fourth quarter net profit at ₹355 crore against ₹165 crore in the year-ago quarter.

Published on May 26, 2022
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