J&K Bank announces 215% dividend

Srinagar, Aug 17: J&K Bank today announced 215 percent dividend for shareholders during 86th Annual General Meeting (AGM) held here at its Corporate Headquarters.MD & CEO Baldev Prakash chaired the AGM – themed ‘Goals Met: Promises Kept’- in presence of Bank’s Directors-on-Board including Principal Secretary to Government (Finance Department) Santosh D Vaidya (IAS) – representing majority share-holder and promoter i.e. J&K UT Government. Couple of Bank’s board-directors joined the meeting through video conferencing.Besides a large number of valuable shareholders, the meeting was also attended by the Bank’s Executive Director Sudhir Gupta, General Managers, Deputy General Managers, Company Secretary, Chief Financial Officer, other senior officers besides members from media fraternity.Speaking on the occasion, Principal Secretary Santosh D Vaidya commended all the stakeholders of the Bank for its eventful journey of 86 years. He stated, “From the initial investment of Rs 5 lakhs, which has grown to more than Rs 10000 Cr today, the Bank’s own business has increased to over Rs 2 Lac Cr. While seeing the ups and downs during these 86 years, we have stayed together and increased the value of the Bank. So I take this opportunity to congratulate all the stakeholders, the shareholders and institutional investors.”