Indusind Bank announced on Wednesday that its board of directors has recommended a dividend of 35% (previous year 30%).

The above recommendation of dividend is subject to approval of the members at the ensuing annual general meeting.

The stock had underperformed the market over the past one month till Apr. 15, 2014, falling 6.53% compared with the Sensex`s 3.10% rise. It outperformed the market in past one quarter, gaining 14.10% as against 5.62% rise in the Sensex.

Shares of the bank gained Rs 6.35, or 1.31%, to trade at Rs 490.50. The total volume of shares traded was 292,546 at the BSE (2.28 p.m., Wednesday).