Bank of Baroda declares dividend of Rs 3.20 per share for FY15

State-run Bank of Baroda (BoB) on Wednesday announced a dividend of Rs 3.20 per share for financial year 2014-15.

"The shareholders have approved declaration of dividend at Rs 3.20 per equity share on the face value of Rs 2 per share for FY15, which works out to be 160 per cent," said Bank of Baroda Managing Director Ranjan Dhawan at the lender's Annual General Meeting in Vadodara.

Dhawan informed shareholders about the global and national economic scenario and said the bank's financial performance was good in the last fiscal despite adverse economic conditions in the country.

"Various initiatives have been taken by the bank in respect of use of technology to enhance customer service by promoting the use of alternative delivery channels", he said.