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Business News/ Markets / Stock Markets/  SBI share price: Dividend stock dips on record date. Do you own?

Dividend stock: State Bank of India or SBI share price witnessed heavy selling pressure during early morning deals on Wednesday even though, the SBI stock is trading ex-dividend today. SBI share price today opened downside and went on to hit intraday low of 579 apiece levels on NSE, logging more than 2 per cent dip in early morning session.

As per the information available on Indian bourses, SBI has declared 11.30 per share final dividend to the eligible shareholders for the financial year 2022-23. The board of directors of the largest Indian commercial bank has fixed 31st May 2023 as record date for dividend payment.

SBI dividend 2023

Informing Indian bourses about the final dividend, SBI said, "pursuant to Regulation 43 and Regulation 30 (6), we advise that the Central Board of the Bank, at its Meeting held on 18th May, 2023, has declared a Dividend of Rs. 11.30 per equity share (1130%) for the financial year ended 31st March, 2023. The date of payment of Dividend is fixed on 14th June, 2023 and the dividend warrants will be dispatched before the date of payment, which will be payable, in India, at par at all branches of State Bank of India, irrespective of the amount."

SBI dividend record date

On dividend record date, SBI said, "Pursuant to Clause (a) of sub regulation (1) and sub regulations 2 & 5 of Regulation 42 of SEBI LODR, 2015 and other applicable provisions, we inform that the Register of Shareholders of State Bank of India will be closed for transfer of shares, in view of payment of dividend, for the Financial Year 2022 – 23, from 01.06.2023 (Thursday) to 05.06.2023 (Monday), the record date being 31.05.2023 (Wednesday). The Central Board of the Bank has declared dividend for the Financial Year 2022 – 23 at its Meeting held on 18th May, 2023."


SBI share price history

SBI share price on Tuesday closed at 592.95 apiece levels, losing near 2 per share on NSE. SBI shares have been in uptrend after bottoming out at 505 apiece levels in March 2023, delivering to the tune of 37 per cent in last two months.

SBI Q4 results 2023

In Q4FY23, SBI reported net profit of 16,694.5 crore, logging a rise of 83 per cent from 9,113.5 crore in the corresponding quarter in last fiscal. SBI’s net interest income (NII) during Q4FY23 increased 29.5 per cent to 40,392 crore from 31,197 crore YoY. The bank's domestic net interest margin (NIM) for Q4FY23 increased by 44 bps YoY to 3.84 per cent.

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Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
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Updated: 31 May 2023, 11:37 AM IST
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