Srinagar: Initiating the payment of dividend to shareholders of J&K Bank after seven years, MD & CEO Baldev Prakash today presented two cheques worth Rs 28.57 Cr and Rs 1.84 Cr to J&K Government, its promoter and major share-holder, an official press release informed.
MD & CEO handed over the dividend cheques for the FY 2022-23 to LG Manoj Sinha in the presence of Chief Secretary, Dr Arun Kumar Mehta; Principal Secretary Finance, Santosh D Vaidya; Principal Secretary to LG, Dr M K Bhandari and Bank’s General Manager Government Business, Syed Rais Maqbool, the release said.
Pertinently, the Bank approved a 50 percent dividend for the financial year 2022-23 at its 85th AGM.
While lauding J&K Bank for its recent performance on the occasion, the LG also appreciated the Bank for its major contribution to the financial empowerment of people besides its critical role in the economic development of Jammu and Kashmir.
He said, “J&K Bank has performed well during the last financial year, and we expect it to continue its growth while extending the best banking services and empowering people financially in the future.”
Chief Secretary, Dr Arun Kumar Mehta commended the Bank for its role towards saturation of self-employment in J&K. Expressing pleasure over the sustained surge in Bank’s share price, he said, “With most of its financial parameters improving during the last many quarters, it is quite a comforting sign for investors to see the Bank’s shares trading above Rs 100.”
Earlier, MD & CEO Baldev Prakash thanked the UT government led by LG Sinha for support, guidance and gave a brief overview of the Bank’s performance and future plans.
“Backed by the continued support and guidance of the UT government, we are mostly on trajectory to achieve our annual targets. We remain committed to provide best banking services to the people while working diligently towards realizing the UT government’s mission of Inclusive, equitable and sustainable economic growth in J&K,” he said.
