Tamilnad Mercantile Bank Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on August 08, 2025
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Tamilnad Mercantile Bank has informed exchanges about its 103rd Annual General Meeting scheduled for Friday, August 8, 2025 at 10:00 AM, to be held via video conferencing. Key agenda items include adoption of the FY25 audited financial statements, a final dividend of ₹11 per equity share (110% on the ₹10 face value), re-appointment of non-executive director Shri. A. Niranjan Sankar, and re-appointment of joint statutory central auditors M/s. Sundaram & Srinivasan and M/s. Chandran & Raman with remuneration of ₹24 lakh each. The bank also proposes appointing Shri. K. Ramachandran as an Independent Director for three years (June 12, 2025 to June 11, 2028) and M/s. SPNP & Associates as Secretarial Auditors for five years (FY26-FY30). E-voting through NSDL will run from August 5 (9:00 AM) to August 7 (5:00 PM), with August 1, 2025 as the cut-off/record date for both voting and dividend eligibility.
The proposed final dividend of ₹11 per share is the main positive for shareholders, with the record date set as August 1, 2025. The other agenda items — director and auditor re-appointments — are largely procedural and routine, unlikely to materially impact the stock price.