SBI Card declares interim dividend, check record date here
2 min read 21 Mar 2023, 06:07 PM ISTSBI Card, an Indian issuer of credit cards and payment solutions, announced a 25% interim dividend for the fiscal year 2022–2023 after reaching the milestone of 14 million cards in 2022.
PremiumSBI Card, an Indian issuer of credit cards and payment solutions, announced a 25% interim dividend for the fiscal year 2022–2023 after reaching the milestone of 14 million cards in 2022. SBI Cards and Payment Services Ltd. is a large-cap company with a market valuation of Rs. 67,875.57 Cr. and operates as a Non Banking Financial Company (NBFC) in the financial services sector.
“In continuation of our letter dated March 16, 2023, intimating about the Board Meeting to be held on March 21, 2023, we wish to inform you that the Board of Directors of the Company, at its meeting held today, has inter alia, declared an Interim Dividend of Rs. 2.50/- (Rupees Two and Fifty Paise) (25%) per equity share (face value of Rs. 10/ each) of the Company for the financial year 2022-23. The Record Date for the purpose of determining the entitlement of payment of lnterim Dividend is Wednesday, March 29, 2023 and the said Interim Dividend will be credited/dispatched on or before April 19, 2023," said SBI Cards in a stock exchange filing today.
SBI Cards & Payment Services has announced an equity dividend of 25.00% at a face value of ₹10 or ₹2.5 per share for the fiscal year that ended in March 2022. This generates a dividend yield at the current share price of Rs. 718.80 of 0.35%. From May 15, 2020, SBI Cards and Payment Services Ltd. has issued 3 dividends and the company has consistently declared dividends during the last 5 years.
During the quarter ended December 2022 the company recorded a net income of ₹3,656.15 Cr compared to ₹3,139.66 Cr during the quarter ended December 2021. The company's net expenses stood at ₹2,507.54 Cr during Q3FY23 compared to ₹2,344.33 Cr during Q3FY22 and its EBIT reached ₹1,148.61 Cr during Q3FY23 compared to ₹795.33 Cr reported during the same quarter of FY22. SBI Cards said its net profit stood at ₹509.46 Cr during Q3FY23 compared to ₹385.78 Cr during Q3FY22 and the EPS of the company reached ₹5.39 as against ₹4.10 reported during the year-ago quarter.
The shares of SBI Card closed today on the NSE at ₹718.80 apiece level, up by 1.15% from the previous close of ₹710.60. The stock recorded a total volume average of 6,96,600 shares compared to the 20-Day average volume of 7,24,858 shares. The stock touched a 52-week-high of ₹1,028.65 on (17-Aug-2022) and a 52-week-low of ₹655.70 on (20-Jun-2022). The company recorded a promoter shareholding of 69.05%, FIIs stake of 9.13%, DIIs stake of 16.72% and a public stake of 5.11% during Q3FY23.
