The dividend is being paid from June 17 and onwards, the bank informed the Bombay Stock Exchange on Saturday.
The audited balance sheet and profit and loss account for the year 2004-05 and the reports of the directors and the auditors thereon were adopted by the shareholders of the bank at its Annual General Meeting held on Friday.
The shareholders also approved the issue, offer and allotment of one crore equity stock options, entitling the option holders to subscribe for the equity shares of the bank of thee aggregate nominal face value not exceeding Rs 10 crore (Rs 100 million).
"These options shall be granted to the employees and directors of the bank from time to time by the compensation committee of the bank," the communication said.
Other approvals include re-appointment of Vineet Jain and Arvind Pande as directors, who had retired by rotation.