sbi shares fall: SBI shares fall 1% .. fall before dividend registration date! – sbi shares fall ahead of record date for dividend

Shares of State Bank of India (SBI) were down more than one per cent at Rs 457 in the Sensex. The shares became X-dividends in yesterday’s deals. One day before the registration date for the dividend. The X-dividend date for shares is usually one business day before the date of registration.

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.