ICICI Bank Ltd has announced that the members at the 12th Annual General Meeting (AGM) of the Bank held on July 22, 2006, inter alia, has approved the declaration of dividend on Preference Shares at the rate of 0.001% for the year ended March 31, 2006 and declaration of dividend on Equity Shares at the rate of Rs 8.50 per equity share of Rs 10 each for the year ended March 31, 2006.