This dividend payment reflects the bank's impressive financial performance during the fiscal year, it said. (Photo: Reuters)
The country's biggest lender State Bank of India (SBI) on Friday paid a dividend of Rs 6,959 crore for the financial year 2023-24 to the government.
The dividend cheque was presented to Finance Minister Nirmala Sitharaman by SBI Chairman Dinesh Kumar Khara in the presence of Financial Services Secretary Vivek Joshi.
"Smt @nsitharaman receives a dividend cheque of Rs 6,959.29 crore for FY 2023-24 from @TheOfficialSBI Chairman Shri Dinesh Kumar Khara," the finance ministry said in a post on X.
SBI declared a dividend of Rs 13.70 per share for the financial year 2023-24, higher than Rs 11.30 per equity distributed for the previous year.
During 2023-24, the bank earned a record consolidated net profit of Rs 67,085 crore against Rs 55,648 crore in the preceding year.
Bank of Maharashtra dividend
State-owned Bank of Maharashtra (BoM) on Friday presented Rs 857 crore dividend cheque to Finance Minister Nirmala Sitharaman.
The cheque was handed over by BoM managing director Nidhu Saxena and executive director Asheesh Pandey in the presence of Financial Services Secretary Vivek Joshi.
The bank declared a dividend of Rs 1.40 per equity share (14 per cent) for FY24, BoM said in a statement.
The Government of India holds an 86.46 per cent stake in the Pune-based bank.
This dividend payment reflects the bank's impressive financial performance during the fiscal year, it said.
The bank's net profit increased by 55.84 per cent to Rs 4,055 crore in FY24, compared to Rs 2,602 crore in the previous fiscal year.
The bank has recorded a 15.94 per cent improvement in total business and a 15.66 rise in deposit mobilisation for the 2023-24.
BoM has consistently shown resilience and adaptability to changing market dynamics, enabling it to remain at the forefront in terms of service delivery and customer satisfaction, it added.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
FAQs
State Bank of India (SBI) paid a Rs 6,959 crore dividend to the government for FY 2023-24, declaring Rs 13.70 per share.
What is the dividend payout of SBI in 2024? ›
For the year ending March 2024 State Bank of India has declared an equity dividend of 1370.00% amounting to Rs 13.7 per share. At the current share price of Rs 785.55 this results in a dividend yield of 1.74%. The company has a good dividend track report and has consistently declared dividends for the last 5 years.
How can I claim my SBI dividend? ›
Process To Claim The Unclaimed Dividend / Redemption Amounts: Investor has to submit request for UDRS (unclaimed Dividend & Redemption) units. The form for claiming unclaimed amount can be Downloaded From Here OR simple request letter for claiming of unclaimed units can also be submitted at any of our Branches.
What is the dividend cheque of SBI? ›
The country's biggest lender State Bank of India (SBI) on Friday paid a dividend of Rs 6,959 crore for the financial year 2023-24 to the government. The dividend cheque was presented to Finance Minister Nirmala Sitharaman by SBI Chairman Dinesh Kumar Khara in the presence of Financial Services Secretary Vivek Joshi.
Is SBI dividend yield fund good? ›
1. Current NAV: The Current Net Asset Value of the SBI Dividend Yield Fund - Regular Plan as of Sep 16, 2024 is Rs 15.96 for Growth option of its Regular plan. 2. Returns: Its trailing returns over different time periods are: 36.82% (1yr) and 36.52% (since launch).
Which Bank gives the highest dividend in India? ›
| Stock | Current Price | Dividend Amount (trailing 1 year) |
|---|
| Ujjivan Small Financ.. | 42.9200 | 1.50 |
| Bank of Baroda | 239.1500 | 7.60 |
| Canara Bank | 106.6900 | 3.22 |
39 more rowsFor the year ending March 2024 SBI Life Insurance Company has declared an equity dividend of 27.00% amounting to Rs 2.7 per share. At the current share price of Rs 1875.95 this results in a dividend yield of 0.14%.
What is the dividend track record of SBI? ›
At the current share price of ₹782.9000, State Bank of India's dividend yield is 1.75%.
| Ex-Date | Dividend Amount | Record Date |
|---|
| 03 Jun 2021 | 4.00 | - |
| 26 May 2017 | 2.60 | - |
| 03 Jun 2016 | 2.60 | - |
| 28 May 2015 | 3.50 | - |
19 more rowsState Bank of India stock (symbol: SBIN. NS) underwent a total of 1 stock split.
How to check dividend received in SBI? ›
Dividend is received in your bank bank account whereas Demat account is used to hold securities in demat form. You can see dividend amount in your saving bank account which is link with your demat account.
If an individual has not claimed dividend given on shares held by him or her for seven consecutive years, then the company has to transfer those shares and the dividend money to Investor Education and Protection Fund (IEPF), which is managed by Ministry of Corporate Affairs (MCA).
How many years can you claim unclaimed dividends? ›
You can claim unclaimed dividends for up to seven years, after which they are transferred to the Investor Education and Protection Fund (IEPF).
Will SBI give dividends in 2024? ›
Financial Services stocks do not always pay a dividend but as State Bank of India pays dividends to reward its shareholders. In the quarter ending March 2024, State Bank of India has declared dividend of ₹13.70 - translating a dividend yield of 3.25%.
How do I get a dividend check? ›
In order to collect dividends on a stock, you simply need to own shares in the company through a brokerage account or a retirement plan such as an IRA. When the dividends are paid, the cash will automatically be deposited into your account.
What is the final dividend of SBI card? ›
Financial Services stocks do not always pay a dividend but as SBI Cards & Payment Services Ltd pays dividends to reward its shareholders. In the quarter ending December 2023, SBI Cards & Payment Services Ltd has declared dividend of ₹2.50 - translating a dividend yield of 0.62%.
Which government company pays highest dividend? ›
7 PSU stocks with highest dividend yields in the last 12 months
- ETMarkets.com. 1/8. Payout Masters. ...
- Agencies. 2/8. Balmer Lawrie Investment. ...
- ETMarkets.com. 3/8. ONGC. ...
- ETMarkets.com. 4/8. central bank of india. ...
- ETMarkets.com. 5/8. BPCL. ...
- ETMarkets.com. 6/8. Power Grid Corporation of India. ...
- Reuters. 7/8. Indian Oil. ...
- ANI. 8/8. Coal India.
13, 2024.
What is the dividend declared by SBI card? ›
Financial Services stocks do not always pay a dividend but as SBI Cards & Payment Services Ltd pays dividends to reward its shareholders. In the quarter ending December 2023, SBI Cards & Payment Services Ltd has declared dividend of ₹2.50 - translating a dividend yield of 0.63%.
 "SBI pays Rs 6,959 crore dividend to govt, BoM gives Rs 857 crore for FY24 (1)")
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