Punjab National Bank has informed the Exchange regarding Notice of Annual General Meeting to be held on Jun 27, 2025
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Punjab National Bank has issued the notice for its 24th AGM, scheduled for Friday, June 27, 2025 at 11:00 a.m. through video conferencing (VC/OAVM), with no physical attendance required. The cut-off date for e-voting eligibility and the record date for dividend is Friday, June 20, 2025, and the dividend payment date is Thursday, July 10, 2025. The Board has recommended a dividend of ₹2.90 per equity share of face value ₹2 for FY 2024-25, subject to shareholder approval at the AGM. Shareholders will vote on key items including adoption of FY25 audited financials, ratification of material related party transactions with subsidiaries and associates (PNB Gilts, PNB Housing Finance, PNB Metlife) with aggregate limits up to ₹6,000 crore for securities/MM transactions and ₹7,100 crore for loans and advances, appointment of Shri Ashok Chandra as MD & CEO (effective January 16, 2025), extension of Shri Kalyan Kumar as Executive Director, and appointment of Shri D Surendran as Executive Director. M/s Agarwal S. & Associates has also been proposed as Secretarial Auditor for a five-year term from FY 2025-26 to FY 2029-30 at ₹2,95,000 plus GST per year. Remote e-voting will be open from June 24, 2025 (9:00 a.m.) to June 26, 2025 (5:00 p.m.).
The dividend of ₹2.90 per share is a positive signal for retail investors and reflects continued profitability at the PSU lender. Formal shareholder ratification of the MD & CEO and Executive Director appointments brings governance clarity, while the omnibus approval for related party transactions with subsidiaries and associates is largely a procedural requirement for normal banking operations.