Kolkata: Allahabad Bank has declared a dividend of 20 per cent for the year 2003-04.

In a statement, the bank said that necessary approval for declaring dividend has been obtained from the RBI.

During 2002-03, the bank had declared a dividend of 10 per cent. The bank has already come out with its annual financial results. The bank''s board, while considering the proposal for payment of final dividend, had decided to refer the matter to the RBI for approval.

The EPS of the bank has jumped to Rs 13.37. Similarly, the book value per share has increased to Rs 44.76 during 2003-04, up from the Rs 33.76 per share in the previous financial year.