Punjab & Sind Bank has paid Rs 36.61 crore dividend to the Government of India (GoI) for the financial year 2010-2011. The bank has declared 20% dividend per equity share, for the financial year 2010-2011. The Executive Director of the bank presented the dividend cheque to Finance Minister Pranab Mukherjee and this is the maiden dividend payout by the bank after the initial public offering (IPO) last year.
Recently, in view of capital planning and expected growth in business, Punjab & Sind Bank had requested the GoI for infusion of additional equity capital of Rs 990 crore by way of preferential allotment.
Punjab & Sind Bank, a GoI undertaking and one of the 19 nationalized banks in India has significantly grown its branch network with a presence predominantly in North India.
