Srinagar: Jammu and Kashmir Bank on Friday presented two cheques of dividend worth over Rs 30 Cr to J&K Lieutenant Governor Manoj Sinha.
Initiating that dividend was being paid to share-holders of J&K Bank after seven years, MD & CEO Baldev Prakash on Friday presented two cheques worth Rs 28.57 Cr and Rs 1.84 Cr to J&K government.
MD & CEO handed over the dividend cheques for the FY 2022-23 to Sinha in presence of Chief Secretary, Arun Kumar Mehta; Principal Secretary Finance, Santosh D Vaidya; Principal Secretary to Lt Governor, M K Bhandari and Bank’s General Manager Government Business, Syed Rais Maqbool.
Pertinently, the Bank approved a 50% dividend for the financial year 2022-23 at its 85th AGM.
While lauding J&K Bank for its recent performance on the occasion, Lt Governor Manoj Sinha also appreciated the Bank for its major contribution in the financial empowerment of people besides the critical role in the economic development of Jammu and Kashmir.
He said, “J&K Bank has performed well during the last financial year, and we expect it to continue its growth while extending the best banking services and empowering people financially in the future.”
Meanwhile, continuing its bullish trend the Bank’s share-price today closed at Rs 104.60, thereby earning 214% in returns for its investors during the last one year. UNI QAB SSP