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STATUTORY REPORTS
with an objective to appropriately reward shareholders through dividends for reposing their confidence in the Bank while retaining the capital required for supporting future business growth. the said policy is available on the website of the Bank at https://www.ujjivansfb.in/ corporate-governance-policies.
Equity Dividend:
the RBI, vide its circular dated April 17, 2020, has decided that the banks shall not make any further dividend payouts from profits pertaining to the financial year ended March 31, 2020 until further communication from RBI, with a view that banks must conserve capital in an environment of heightened uncertainty caused by
the details of the dividend declared on 200,000,000, 11% amounting to `11 Crores is as follows:
July 30, 2019
change in the nature Of BuSineSS
There was no change in the nature of business of the Bank during the financial year ended March 31, 2020.
material changeS anD cOmmitmentS
No material changes and commitments have occurred after the closure of the financial year ended March 31, 2020 till the date of this report, which might have affected the financial position of the Bank. the CoVID-19 pandemic and the nationwide lockdown since the last week of March, 2020 may adversely impact the portfolio quality, hence the Bank has made a prudential provision to the tune of `70 Crores.
reviSiOn Of financial Statement Or the DirectOrS’ rePOrt
the Bank has not revised its financial statements or the directors’ report in respect of any of the three preceding financial years either voluntarily or pursuant to the order of any judicial authority.
general infOrmatiOn
Detailed overview of the banking industry and important changes therein, external environment and economic outlook have been elaborated in the Management and Discussion Analysis Report which forms part of the Annual Report of the Bank for the financial year ended March 31, 2020.
caPital anD DeBt Structure
A. Changes in the Capital Structure
During the financial year ended March 31, 2020, the Authorised Share Capital of the Bank was increased from `17,000,000,000 (Rupees one thousand Seven
CoVID-19. Accordingly, the Board of the Bank has not proposed any final dividend on the equity shares for the financial year ended March 31, 2020.
Preference Dividend:
In compliance with the provisions of all applicable laws, term sheet of preference shares and the aforementioned policy and considering the overall performance of the Bank, the Board of the Bank had declared interim preference dividend @ 5.50% on 200,000,000, 11% Perpetual Non-Cumulative Preference Shares of `10/- each during the financial year ended March 31, 2020.
the said dividend was declared out of the profits earned by the Bank during the quarter ended on June 30, 2019.
perpetual non-Cumulative preference Shares of `10/- each
5.50 11.00 2.26
Hundred Crores) divided into 1,500,000,000 (one Hundred Fifty Crores) equity shares of `10/- (Rupees ten) each and 200,000,000 (twenty Crores) 11% perpetual non-cumulative preference shares of `10/- (Rupees Ten) each to `25,000,000,000 (Rupees two thousand Five Hundred Crores) divided into 2,300,000,000 (two Hundred thirty Crores) equity shares of `10/- (Rupees Ten) each and 200,000,000 (twenty Crores) 11% perpetual non-cumulative preference shares of `10/- (Rupees Ten) each vide shareholder's resolution dated April 26, 2019.
B. Issue of Equity Shares or Other Convertible Securities
During the financial year ended March 31, 2020, the Bank had issued and allotted 14,055,097 equity shares under eSpS 2019, 71,428,570 equity shares by way of preferential issue on private placement basis and 202,702,702 equity shares pursuant to its Ipo.
eSPS 2019
the Bank, pursuant to the resolutions passed by the Board on July 30, 2019 and by Shareholders on August 03, 2019, had adopted the ESPS 2019. The objective of the ESPS 2019 is inter-alia to reward the employees of the Bank, its present or future subsidiary (ies) and/or holding company (ies), for their association and performance as well as to motivate them to contribute to the growth and profitability of Bank.
Date of declaration
% age of dividend
Amount of dividend excluding dividend distribution tax (` in Crores)
Dividend Distribution Tax (` in Crores)
145