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J&K Bank announces Rs 50 per share dividend

The dividend of 500% on a share of face value Rs 10 was approved at the annual general meeting of shareholders which was held here

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Press Trust of India Srinagar
Last Updated : Jun 22 2013 | 6:30 PM IST
Jammu & Kashmir Bank today announced a dividend of Rs 50 per share or 500% to its shareholders.
 
The dividend of 500% on a share of face value Rs 10 was approved at the annual general meeting of shareholders which was held here, a spokesman of the bank said.
 
Shares of J&K Bank had closed at Rs 1,178.60 on BSE yesterday.
 

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Bank's Chairman and CEO Mushtaq Ahmad expressed satisfaction on achieving targets for 2012-13 fiscal.
 
"We have not only achieved, but even surpassed our Rs 1,00,000 crore business target and Rs 1,000 crore profit in the Platinum Jubilee year," he said.
 
The bank had reported a profit of Rs 1,055.10 crore and revenue of Rs 6,136.80 crore for 2012-13 fiscal.
 
"While these achievements enhance our confidence in our abilities, the core guiding philosophy remains the same: creating opportunities and touching lives in more ways than one," Ahmad said. 

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First Published: Jun 22 2013 | 6:29 PM IST

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