Union Bank of India's 24th AGM: Key Resolutions Passed Including Dividend and Capital Raising
Union Bank of India's 24th AGM on July 10, 2026, saw all resolutions passed. Key approvals include the FY26 dividend of ₹5.00 per share and capital raising via equity/AT1/AT2 bonds. Reappointments and new appointments of directors, including MD & CEO Asheesh Pandey, were also confirmed.
The passing of resolutions related to dividend distribution and capital raising, along with director appointments, are significant for the bank's financial health and governance, but do not represent an immediate, drastic change in operations.
The announcement details the successful passing of all resolutions at the AGM, including dividend declaration and capital raising, indicating positive outcomes for the bank.
Union Bank of India has submitted the Scrutinizer's Consolidated Report for the 24th Annual General Meeting (AGM), which was held on Friday, July 10, 2026, at 11:00 a.m. IST through Video Conferencing. The report covers the remote e-voting and e-voting conducted during the AGM.
The AGM notice was dispatched on June 18, 2026, with a cut-off date of July 3, 2026, for determining voting entitlements. The remote e-voting period commenced on July 7, 2026, and concluded on July 9, 2026.
All resolutions presented at the AGM were passed with the requisite majority. These included the approval of Audited Standalone and Consolidated Financial Statements for the year ended March 31, 2026, and the Report of the Board of Directors. An Ordinary Resolution to declare a dividend of ₹5.00 per equity share for the Financial Year 2025-26 was also approved.
Furthermore, a Special Resolution was passed for raising capital through the issuance of fresh equity shares and/or Additional Tier-1/Tier-2 Capital as per BASEL III Guidelines. The AGM also saw the reappointment of Shri Nitesh Ranjan and Shri Ramasubramanian S as Executive Directors, the appointment of Shri Asheesh Pandey as Managing Director and CEO, and the appointment of Dr. Debasish Prusty as Government Nominee Director. The reappointment of Shri Amresh Prasad as Executive Director was also approved.
The consolidated results indicate strong support for all resolutions, with over 98% of votes in favor for most items, including the dividend and capital raising resolutions. The appointment of directors also received substantial approval, with assent votes ranging from 91% to 94%.
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