Union Bank of India's board announced dividend for the financial year 2025-26, along with fourth quarterly earnings on Thursday, April 23. The lender declared a dividend of Rs 5 per equity share.
The dividend payment is subjected to statutory and shareholders' approval at the annual general meeting (AGM). The date of AGM and other related details will be informed in due course.
"The Board has recommended a Dividend of Rs 5 per Equity Share of Rs 10 each for Financial Year 2025-26. The payment of Dividend is subject to obtaining the necessary statutory approvals and the approval of the shareholders of the Bank at the ensuing 24 th Annual General Meeting (AGM). The date of AGM, the Book Closure for the purpose of AGM and the Dividend for the Financial Year 2025-26 will be intimated in due course," the bank said in an exchange filing.
ALSO READ: Union Bank Of India Q4 Result: Shares Decline After Fall In NII And Higher Provision
In the March quarter of FY26, Union Bank of India reported net interest income of Rs 9,406 crore compared with Rs 9,514 crore in the year-ago period, down 1% year-on-year, while profit after tax grew 7% on a yearly basis and 6% on a sequential basis. Provisions rose sharply, tripling sequentially from Rs 322 crore to Rs 1,055 crore. On a yearly basis, provisions have increased 31%. A higher provision has had an impact on the bank's profitability.
Meanwhile, asset quality improved for Union Bank of India in Q4, with gross NPA ratio dropping to 2.82% from 3.06%, down 24 basis points quarter-on-quarter while net NPA ratio eased to 0.48% from 0.51%, down 3 basis points quarter-on-quarter.
Union Bank of India's shares have dippled sharply following the announcement of its fourth quarter earnings, falling more than 6% from peak. The scrip is currently trading with cuts of more than 6%.
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