Bank Of India Pays Dividend Of Rs.668.17 Cr To Govt

Bank of India (BOI) on Thursday paid a dividend of Rs 668.17 crore for the financial year 2022-23 to the Government of India, its majority shareholder.

"The dividend of Rs.2.00 per equity share (20 per cent) was declared by BOI’s Board of Directors on May 30, 2023. The dividend payout is based on the bank’s strong financial performance for the full year 2022-23", said the company.

For the full year 2022-23, BOI’s net profit jumped by 18.15 per cent, which went up from Rs.3,405 crores in FY22 to Rs.4,023 crores in FY23. The Operating Profit increased by 34.09 per cent from Rs.9,988 crores in FY22 to Rs.13,393 crores in FY23.

By successfully paying dividends to the Government of India, the 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.