Bank of Maharashtra AGM 2026: ₹1.20 dividend, ₹7,500cr

What the bank has put to vote

Bank of Maharashtra has issued the notice for its 23rd Annual General Meeting (AGM), laying out a set of proposals that combine shareholder payouts, board-level appointments, and capital planning. The bank’s Board of Directors has recommended a final dividend of ₹1.20 per equity share (face value ₹10) for FY 2025-26. This final dividend, if approved, will be paid in addition to an interim dividend of ₹1.00 per share that was paid earlier in the year.

Alongside the dividend proposal, the bank is also seeking shareholder approval to raise capital of up to ₹7,500 crore through multiple routes including equity issuances and Basel III compliant bonds. The stated intent is to maintain regulatory capital adequacy and support future requirements, while ensuring the government’s stake does not fall below 51% of the bank’s paid-up equity capital.

AGM date, format, and what shareholders should note

The 23rd AGM is scheduled for Tuesday, June 30, 2026 at 11:00 a.m., and will be conducted virtually through video conferencing and other audio-visual means. Bank of Maharashtra has also intimated the stock exchanges regarding the newspaper publication of the AGM notice.

For dividend eligibility, the bank has fixed Friday, June 5, 2026 as the record date. The final dividend remains subject to shareholder approval at the AGM, and will be paid after applicable tax deduction at source.

Separately, voting rights for all agenda items will be reckoned based on shareholder status as of Tuesday, June 23, 2026. The bank has also detailed a remote e-voting window for shareholders who choose to vote ahead of the meeting.

Dividend details for FY 2025-26

The board has recommended a final dividend of ₹1.20 per share for FY 2025-26. This comes on top of an interim dividend of ₹1.00 per share that was already paid earlier.

The interim dividend payment date mentioned by the bank is January 13, 2026. With both components, the total dividend for FY 2025-26 works out to ₹2.20 per share, subject to the final dividend receiving shareholder approval.

Capital raise plan: up to ₹7,500 crore

A central item on the AGM agenda is the proposal to raise up to ₹7,500 crore to strengthen the bank’s capital base and to maintain regulatory Capital Adequacy Ratio (CRAR). The notice outlines that funds may be raised through a mix of options, including Qualified Institutional Placement (QIP), Follow-on Public Offer (FPO), rights issue, ESPS issue, and preferential allotment. It also includes Basel III Additional Tier I (AT-1) bonds and Tier II bonds among the permitted instruments.

The bank has also clarified that even after the proposed fund raising, the Government of India’s shareholding in the bank’s paid-up equity capital will not fall below 51%.

Executive Director appointment on the agenda

Shareholders will also be asked to approve the appointment of Shri Sushanta Kumar Mohanty as Executive Director. The bank has stated that his appointment was made by the Central Government via a notification dated April 15, 2026.

As per the information provided, Mohanty brings over 30 years of banking experience. His earlier roles include positions at Bank of Baroda, and he has also served on the boards of Baroda U.P. Gramin Bank and FIMMDA. His tenure as Executive Director is for three years or until further orders.

E-voting window and participation process

For shareholders who plan to vote remotely, the bank has set out a clear schedule. Remote e-voting commences at 09:00 a.m. on Thursday, June 25, 2026 and closes at 05:00 p.m. on Monday, June 29, 2026.

The notice also specifies that shareholders holding shares in demat mode can vote through the CDSL or NSDL e-voting systems. Voting can be completed using existing login credentials or by providing PAN and demat account details.

Key dates and agenda items at a glance

Market impact: what these items signal

The dividend recommendation provides clarity on the bank’s FY 2025-26 shareholder payout, with ₹1.20 per share proposed as final dividend in addition to the ₹1.00 per share interim dividend already paid. In parallel, the proposed ₹7,500 crore capital raise places emphasis on maintaining regulatory capital adequacy and creating headroom for the bank’s capital needs.

Because the funding plan includes multiple instruments including equity issuance routes and Basel III AT-1 and Tier II bonds, the eventual mix will matter for how the bank balances dilution, cost of funds, and capital ratios. The bank’s statement that the government’s shareholding will remain at or above 51% provides an additional boundary condition for any equity-linked issuance.

Why the AGM matters for investors

This AGM bundles together three investor-relevant decisions: (1) approval of audited financial statements, (2) dividend declaration, and (3) a capital raising mandate that could shape the bank’s capital structure. The fourth item, the Executive Director appointment, is a notable governance update because it seeks shareholder ratification for a senior leadership role filled through a government notification.

Separately, the bank has also disclosed an annual net profit of ₹7,019.32 crore in the same set of updates, placing the dividend recommendation in the context of reported profitability for the year.

Conclusion

Bank of Maharashtra’s June 30, 2026 virtual AGM will ask shareholders to approve a ₹1.20 per share final dividend for FY 2025-26, endorse the appointment of Executive Director Sushanta Kumar Mohanty, and authorise a capital raise of up to ₹7,500 crore. With the record date set as June 5, 2026 and remote e-voting running from June 25 to June 29, the key decisions now move to shareholder voting and AGM outcomes.