Indian Bank pays interim dividend of Rs 125.06 crore

CHENNAI: Indian Bank today paid an interim dividend of Rs 125.06 crore to the Finance Ministry for the third quarter ended December 31.

Indian Bank Chairman and Managing Director T M Bhasin handed over the cheque of Rs 103.15 crore to Finance Minister P Chidambaram in New Delhi today, the city-based state-owned bank said in a statement.

"The Bank paid the Dividend Distribution Tax of Rs 21.91 crore and thus the exchequer received Rs 125.06 crore, comprising equity dividend of Rs 103.15 crore and dividend distribution tax of Rs 21.91 crore", it said.

The global business of the bank reached Rs 2.70 lakh crore as on December 31, 2013 registering a Year-on-Year growth of Rs 14.8 per cent.

The bank reported a 19.9 per cent decline in its net profits for the third quarter ending December last year at Rs 264.50 crore.

It had registered net profit at Rs 330.58 crore in the same period of the previous fiscal.

For the nine month period ended December, net profit dipped to Rs 887.65 crore from Rs 1,289.00 crore registered during the corresponding period of the previous fiscal.