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Indian Bank has paid Rs 297.87 crore to the Central Government as dividend for the financial year 2010-11. The dividend cheques were handed over to the Finance Minister, Mr Pranab Mukherjee, by Mr T. M. Bhasin, Chairman and Managing Director of the bank here on Monday.
Out of the total sum of Rs 297.87 crore, one cheque was for Rs 257.87 crore, being 75 per cent dividend on Government equity of Rs 343.82 crore. The other cheque was for Rs 40 crore, being 10 per cent dividend on Rs 400 crore preference shares.
Both the executive directors of the bank, Mr V. Rama Gopal and Mr Rajeev Rishi were present on the occasion along with Mr Shaktikanta Das, Government nominee director.
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