Jammu & Kashmir Bank announced on Saturday a dividend of Rs 50 per share or 500 per cent to its shareholders.
The dividend of 500 per cent on a share of face value Rs 10 was approved at the annual general meeting of shareholders which was held here, a spokesman of the bank said.
Shares in J&K Bank ended at Rs 1,178.60 on the BSE last week.
Mushtaq Ahmad, J&K Bank's chairman and CEO, expressed satisfaction on achieving targets for fiscal year 2012-13.
"We have not only achieved, but even surpassed our Rs 1,00,000 crore business target and Rs 1,000 crore profit in the Platinum Jubilee year," he said.
The bank had reported a profit of Rs 1,055.10 crore and revenue of Rs 6,136.80 crore for fiscal year 2012-13.
"While these achievements enhance our confidence in our abilities, the core guiding philosophy remains the same: creating opportunities and touching lives in more ways than one," Mr Ahmad said.
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