Indian Bank pays dividend of Rs 297.87 crore to Government

Indian Bank, a public sector lender, has paid Rs 257.87 crore dividend to the Government of India (GoI) for the financial year ended March 31, 2011. The bank paid Rs 257.87 crore as dividend on Government equity and Rs 40 crore as return on preference shares for the fiscal year 2010-11.

The bank is also planning to come out with a follow on public offer (FPO) of 6.1 crore shares with the face value of Rs 10 each. Indian Bank had recorded highest returns on assets (RoA) for the financial year ended March 2011 among the PSU banks space.