Bank of Maharashtra to pay 5% dividend from net worth on govt nudge

The payout will make a small dent in lender's capital adequacy ratio; stock sheds 3.73% on BSE

Following the government missive, the board of Bank of Maharashtra has recommended a five per cent dividend (Rs 337 crore) for the financial year ended March 31 2022.

Officials said the money, following government nudge, is being paid out of net worth. The revised net-worth would be Rs 10,175 crore, down from Rs 10,512 crore.

The dividend payout will make a small dent in capital adequacy ratio (CAR) to 16.48 per cent from 16.85 per cent, according to filing with BSE.

BoM stock closed 3.73 per cent lower at Rs 15.5 Per share on BSE. It touched 52-low of Rs