SBI Card's shares trading in green after declaring dividend yesterday

Shares of SBI Cards and Payment Services (SBICARD) are trading under the green territory today after the company declared a dividend of Rs 2.5 per share with a face value of Rs 10 on Tuesday, March 21.

At 9.12 AM IST, the company's shares were found trading at Rs 721.05 each, up 0.50% or Rs 3.60 apiece on BSE. However, yesterday SBI Card's closing price was Rs 717.45 each.

This is the second time SBI Card announced its interim dividend in the current financial year. Earlier, the company had declared the same amount of dividend in May last year.

SBI Card dividend: Record date 2023

The company has already fixed the record date for the payment of any such interim dividend. Simply put, any dividend declared by the SBI Card's board on Tuesday will have March 29 as the record date.

"The record date for the purpose of determining the entitlement of payment of the interim dividend is Wednesday, March 29, 2023," SBI Card said in a stock exchange filing.

Investors will get the interim dividend on or before 19 April 2023. It will be distributed to the shareholders whose names appear as beneficial owners of the shares as of March 29, the record date, in the company's register of members or the records of the depositories.

In the last year, SBI Card has distributed an equity dividend of Rs 2.50 per share, a dividend yield of 0.34%.

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