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“SBI Cards Declares Interim Dividend, Sets Record Date for March 29, 2023”

After surpassing the milestone of 14 million cards in 2022, SBI Card, an Indian issuer of credit cards and payment solutions, announced a 25% interim dividend for the fiscal year 2022-2023. A large-cap corporation, SBI Cards & Payment Services Limited. With a market value of Rs. 67,875.57 crores, it conducts business as an NBFC, or non-bank financial company, in the financial services industry.

“In continuation of our letter dated March 16, 2023, notifying you of the Board meeting scheduled for March 21, 2023, we wish to inform you that the Board of Directors of the Company at its meeting held today, among other things, declared an interim dividend of Rs. 2.50/- (Rupees two and fifty paise) (25%) per equity share of the Company (face value of Rs.10 each) for the fiscal year 2022–23. SBI Card stated in a stock exchange filing today that the record date for determining eligibility for payment of interim dividend is Wednesday, March 29, 2023, and the aforementioned interim dividend shall be credited/remitted on or before April 19, 2023.

For the fiscal year that ends in March 2022, SBI Cards & Payment Services has declared an equity dividend of 25.00% on face value 10 or 2.5 per share. At the current share price of Rs. 718.80, it generates a dividend yield of 0.35%. SBI Cards & Payment Services Ltd has announced 3 dividends since May 15, 2020, and the firm has done it continuously for the previous 5 years.

The company reported a net income of Rs. 3,656.15 crore for the quarter ended December 2022 as opposed to Rs. 3,139.66 crore for the quarter ended December 2021. The company’s net expense increased to Rs. 2,507.54 crore in the third quarter of FY23 from Rs. 2,344.33 crore in the same quarter of FY22, while its EBIT increased to Rs. 1,148.61 crore from Rs. 795.33 crore. SBI Cards said that its third-quarter net profit for FY23 was Rs. 509.46 crore, up from Rs. 385.78 crore for FY22, and that its EPS was 5.39 instead of the 4.10 recorded for the same period in FY22.

Today’s NSE closing price for SBI Card shares was 718.80, up 1.15% from yesterday’s close of 710.60. Compared to the 20-day average volume of 7,24,858 shares, the stock had an average total volume of 6,96,600 shares. On 17 August 2022, the stock reached a 52-week high of 1,028.65 and a 52-week low of 655.70. (20-Jun-2022). During Q3FY23, the firm reported that promoter holdings were 69.05%, FII holdings were 9.13%, DII holdings were 16.72%, and public holdings were 5.11%.
Also Read: “Hindustan Zinc Announces Fourth Interim Dividend of ₹26 per Share with Fixed Record Date”

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