While announcing the fourth quarter results of 2022, the SBI Board announced a dividend of 710% or Rs.7.10 per equity share for the financial year ended March 31, 2022. The registration date for this dividend was fixed today. The bank has set Friday, June 10, as the dividend payment date.
SBI, India’s largest bank, had posted a net profit of Rs 9,113.5 crore for the quarter ended March 2022, up 41%. This is an unprecedented quarterly profit. But it missed out on analysts’ best ratings as bad credit ratings soared.
SBI’s net interest income (NII), the difference between earned and spent interest, increased by 15% year-on-year (YoY) to Rs 31,198 crore during the quarter, from Rs 27,067 crore.
SBI shares are up about 10% over a one-year period. At the same time, the bank’s shares fell more than 3% on the first day of the year (YTD) compared to the benchmark Sensex’s fall of 9% over the period.