Bank of India Pays Rs 935.44 crore Dividend To Indian Government

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Bank of India had declared dividend of Rs.2.80 per equity share (28%) for the financial year 2023-24.

New Delhi: Bank of India has said that it has handed over dividend cheque of Rs 935.44 crores for the financial year 2023-24 to Government of India on 10th July 2024.

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The dividend cheque was presented by Rajneesh Karnatak, Managing Director & CEO and all the four Executive Directors of Bank of India to Finance Minister Smt. Nirmala Sitharaman.

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Bank of India had declared dividend of Rs.2.80 per equity share (28%) for the financial year 2023-24. For the full year 2023-24, Bank of India’s net profit jumped by 57%, which went up from Rs. 4,023 crores in FY23 to Rs. 6,318 crores for FY24.

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“By successfully paying dividends to the Government of India, Bank of India reaffirms its robust financial performance and unwavering dedication to creating value for its shareholders. This accomplishment stands as a testament to the bank’s commitment to excellence and its ability to generate consistent returns,” said BOI in a statement.