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Federal Bank lowers dividend for fiscal 2015-2016

Federal BankLtd.'s board recommended a dividend of 70 paise per share for thefiscal year ended March 31, down from a dividend of 2.20 rupees per share inthe prior-year period.

The dividend is subject to the approval of shareholders.

As of April 29, US$1was equivalent to 66.37 Indian rupees.