The much-awaited event of Annual General Meeting (AGM) is over. Its a very big positive development as the AGM has paved the way for faster growth of the bank in terms of management expansion, more reward for investors and clear roadmap for future.
|500:1 (500 Bonus shares||Yes|
|for every share held).|
|Rs 2450 final dividend for||Yes|
|last six years.|
|Appointment of new directors||Yes|
|for board expansion.|
|IPO details||Matter to be taken up in|
|and demat.||subsequent board meetings|
All the above mentioned proposals, as per various sources, are approved in AGM but are pending in Mardas High Court. The announcement on same is expected by February 2016.
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Tamilnad Mercantile Bank is a premier fast growing private sector bank in India based at Thoothukudi, Chennai. The bank has a long cherished history of more than 93 years of successful banking with strong fundamentals and a record of continuous profit making. It has a strong branch network of 450+ branches and 950+ ATMs.