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GoI receives Rs 42.54 crore as dividend from Dena Bank

09 Aug 2011 Evaluate

Dena Bank has paid a dividend of Rs 42.54 crore to the Government of India (GOI) for the financial year 2010-11. The amount represents a 22 percent dividend at Rs 2.20 per equity share of Rs 10 face value. Dena Bank Chairman and Managing Director handed over the cheque to Finance Minister Pranab Mukherjee.  The Government of India at present holds a 58.01 percent stake in the bank.

Earlier, Dena Bank had signed a memorandum of understanding (MoU) with United India Insurance for marketing of general insurance policies through its branches. United India Insurance was incorporated as a company on February 18, 1938. It had been in the forefront of designing and implementing complex covers to large customers, as in cases of ONGC, GMR- Hyderabad International Airport, Mumbai International Airport Tirumala-Tirupati Devasthanam etc.

The bank has reported a jump of 14.54% in its net profit of Rs 157.00 crore for the quarter ended March 31, 2011 as compared to Rs 137.07 crore for the quarter ended March 31, 2010. Total income has surged by 28.28% to Rs 1588.26 crore for the quarter ended March 31, 2011 where as the same was at Rs 1238.10 crore for the quarter ended March 31, 2010.

Peers
Company Name CMP
SBI 1094.10
PNB 112.80
Canara Bank 140.90
Bank Of Baroda 276.05
Union Bank Of India 179.65
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