Indian Bank: Board recommends Dividend

Indian Bank has informed BSE that the Board of Directors of the Bank at its meeting held on April 23, 2011, inter alia, recommended payment of dividend for the year 2010-11 on the Equity and Perpetual Non-Cumulative Preference Share Capital of the Bank as detailed below, subject to receipt of approval from Government of India and declaration of the same by the shareholders of the Bank in the ensuing Annual General Meeting:

1. Equity Dividend of Rs. 7.50 (75%) per Equity Share of face value of Rs. 10/- each.

2. Dividend of Rs. 10.00 (10%) per Perpetual Non-Cumulative Preference Share of face value of Rs. 100/- each.

The dividend. if declared at the ensuing Annual General Meeting, will be paid within 30 days from the date of the Annual General Meeting.