SBI Dividend 2024: PSU bank declares 1370% dividend - Check record and payment dates

SBI Dividend 2024: The board of directors of the State Bank of India (SBI), the country's largest lender, has declared a dividend of Rs 13.70 per equity share of the face value of Re 1 for the financial year 2024. 

"The Central Board of the Bank, at its Meeting held today, has declared a Dividend of Rs 13.70 per equity share (1370%) for the financial year ended 31.03.2024," the company said in an exchange filing.

SBI Dividend 2024: Record Date

The public sector bank has also fixed the record date for this purpose. The company informed exchanges that May 22 has been fixed as the record date. 

A record date is a specific day that helps a company in finalising the list of shareholders eligible for its forthcoming corporate action.

"The record date for determining the eligibility of members entitled to receive a dividend on equity shares is Wednesday 22.05.2024," the filing reads.

SBI Dividend 2024: Payment Date

The State Bank of India has fixed  June 5, 2024, as the payment date for this dividend.

SBI Share Price

Meanwhile, the shares of State Bank of India were trading at Rs 832.85, up by 2.77 per cent from the previous close of Rs 810.40, on the BSE. The counter of the SBI, which has a market cap of Rs 7,43,420 crore, has a 52-week high of Rs 839.60 and a 52-week low of Rs 543.15.

SBI Q4 Results

Meanwhile, the state-run lender has announced its Q4 results. The bank has reported a net profit of Rs 20,698 crore in the fourth quarter of FY24, registering a growth of 24 per cent from Rs 16,694.5 crore in the year-ago quarter. 

Consolidated net profit in fiscal year 2023-24 was up 20.55 per cent to Rs 67,084.67 crore as against Rs 55,648.17 crore in FY23.

In Q4 FY24, total income rose to Rs 1.28 lakh crore from Rs 1.06 lakh crore in the year-ago period, while operating expenses grew at a relatively slower rate at Rs 30,276 crore from the year-ago period's Rs 29,732 crore.