Bank of Baroda revises proposed dividend upwards to Rs 2.85 per share

Small impact on net-worth and capital adequacy. The dividend payment is subject to shareholders' approval at the annual general meeting

Following the government’s nudge, the Board of Bank of Baroda (BOB) on Wednesday recommended a revised dividend at Rs 2.85 per equity share (of face value Rs 2) for the FY22.

Earlier on May 13, the board of Mumbai-based public sector lender had recommended dividend at Rs 1.20 per equity share for FY22.

On Tuesday, the board considered and approved the consequential changes (due to revision in dividend) in Audited Financial Results of the Bank for the quarter/year, ended March 31, 2022, BOB said in filing with BSE.

The dividend payment is subject to shareholders approval at the annual general