Union Bank of India has submitted the Exchange a copy of Srutinizers report 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, and all six resolutions were passed with overwhelming majority. Shareholders approved the audited standalone and consolidated financial statements for FY25 with 99.86% votes in favour. A dividend of Rs 4.75 per equity share (47.5% on face value of Rs 10) for FY 2024-25 was approved with 99.90% support. A special resolution allowing the bank to raise capital through fresh equity shares and/or Basel III-compliant Additional Tier-1/Tier-2 instruments was passed with 99.93% in favour. Two director appointments — Shri Suraj Srivastava as Part-Time Non-Official Director and Shri Rohan Chand Thakur as Government Nominee Director — were also approved, along with the appointment of M/s Ragini Chokshi & Co. as Secretarial Auditor for FY2025-26 to FY2026-27. The voting was conducted through remote e-voting and electronic voting during the AGM, overseen by scrutinizers Ragini Chokshi & Co.
Shareholders will receive a Rs 4.75 dividend per share, which is a positive cash return. The approved capital-raising resolution gives the bank flexibility to issue fresh equity or Basel III bonds in the future, which could dilute existing shareholders if equity is issued, but strengthens the bank's capital position and growth capacity. Director appointments reflect stable governance continuity.