SBI Life Insurance announces interim dividend: Check record date, other details

SBI Life Insurance Dividend 2023: SBI Life Insurance – a public sector insurance company – on Wednesday announced an interim dividend to its shareholders for the financial year 2022-23 (FY23). Dividend payment is generally considered as the distribution of a company's profits to its shareholders. 

Usually, companies announce dividends to distribute excess earnings to investors, which are typically paid in cash but can also be in the form of company stock. 

SBI Life Insurance Interim Dividend 2023

“The Board of Directors of SBI Life Insurance on March 08, 2023, has declared an interim dividend on equity shares of the company of Rs 2.50 per equity share with a face value of Rs.10 each (i.e. 25 per cent) for the financial year 2022-23,” SBI insurance subsidiary said in a filing on March 8, 2023. 

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SBI Life Insurance Interim Dividend: Payment Date 

While announcing the payment date, SBI Life Insurance said, “The aforesaid Interim Dividend will be paid to the shareholders on or before April 06, 2023.” 

SBI Life Insurance Interim Dividend: Record Date 

SBI Life Insurance has fixed a record date of March 16, 203 for the Interim Dividend. The record date is the date that determines the shareholders' eligibility to receive a dividend payout. 

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Shares of PSU insurance company on Wednesday closed flat with a negative bias at Rs 1,128.65 per share. The stock pared early morning gains and briefly traded near a flatline as the session progressed.  

Motilal Oswal on SBI Life Insurance 

SBI Life to claw back its market share as the year progresses, led by rising focus on protection and nonpar savings, annuity segment, which may have a positive effect on margins, Nitin Aggarwal, an analyst at Motilal Oswal said while being confident about the insurance company’s growth. 

Also Read: SBI may cut stake in Yes Bank after lock-in ends on March 13

SBI Life Share Price History

In the last year, SBI Life shares were in line with BSE Sensex in terms of growth as they both surged by 10 per cent each during the same period as of March 8, 2023. While the insurance firm’s shares underperformed the market slipped by over 8 per cent versus over 1 per cent fall in the BSE.