Union Bank of India has informed the Exchange regarding Proceedings of Annual General Meeting held on August 01, 2025
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Union Bank of India held its 23rd AGM on August 1, 2025 via video conferencing, where all 6 resolutions were passed with the requisite majority. Shareholders approved the audited financial statements for FY 2024-25 and declared a dividend of Rs. 4.75 per equity share. A capital raise of up to ₹6,000 crore was also approved, along with the appointment of Shri Suraj Srivastava as Independent Director, Shri Rohan Chand Thakur as Government Nominee Director, and M/s Ragini Chokshi & Co. as Secretarial Auditor for two years. The meeting was chaired by Non-Executive Chairman Shri Srinivasan Varadarajan and ran from 11:00 AM to 1:10 PM.
Shareholders will receive a dividend of Rs. 4.75 per share for FY25, while the approved ₹6,000 crore capital raise could lead to equity dilution and may put short-term pressure on the stock price. The new director appointments and auditor re-appointment reinforce governance continuity.