Shareholders at the 99th annual general meeting of Karnataka Bank approved distribution of ₹5 a share (that is 50 per cent) as dividend for the financial year 2022-23. The annual general meeting was held in Mangaluru on Tuesday through videoconferencing.

The bank informed stock exchanges that P Pradeep Kumar, Chairman of the bank, who chaired the meeting, addressed the shareholders regarding the developments that took place during the financial year 2022-23 and the progress made by the bank during the reporting financial year.

The bank informed stock exchanges that all eight resolutions were passed with the requisite majority.

Srikrishnan H, Managing Director and Chief Executive Officer of the bank, responded to the queries of the shareholders on the occasion.