Bank of Maharashtra presents dividend cheque of Rs 795.94 cr to Finance Minister

New Delhi, Jun 20 (PTI) State-owned Bank of Maharashtra (BoM) on Tuesday presented a dividend cheque of Rs 795.94 crore for the financial year 2022-23 to Finance Minister Nirmala Sitharaman.

This is the highest-ever dividend paid by the bank to the government, BoM said in a statement.

The dividend cheque was presented by the bank managing director A S Rajeev along with Executive Directors A B Vijayakumar and Asheesh Pandey, it added.

Department of Financial Services Joint Secretary Sameer Shukla was also present on the occasion.

BoM declared a dividend of Rs 1.30 per equity share (13 per cent) for the financial year ending on March 31, 2023.

During the year, BoM’s net profit soared 126 per cent, reaching to Rs 2,602 crore, compared to Rs 1,152 crore in the previous fiscal year.