SBI Cards to pay Rs 2.5/share interim dividend, sets record date
economictimes.indiatimes.comSBI Cards has declared an interim dividend of Rs 2.5 per share for the financial year ending 2023-24. The company has also fixed a record date of March 28 for the proposed dividend.
«The Board of the company declared an interim dividend of Rs 2.5 (25%) per equity share for the financial year 2023-24,» the company said in a filing.
The said interim dividend will be credited on or before April 17, 2024.
Shares of companies usually trade ex-dividend on the day or a day before the record date. When a company goes ex-dividend on a particular date, its stock does not carry the value of the next dividend payment. An ex-dividend date also dictates which shareholders are eligible to receive the dividend payment.
SBI Cards and Payment Services is a non-banking financial company that offers an extensive credit card portfolio to individual cardholders and corporate clients, which includes lifestyle, rewards, travel and fuel, and banking partnerships cards along with corporate cards covering all major cardholders' segments in terms of income profile and lifestyle.
The brand has a wide base of around 18.5 mm+ cards in force as of December 2023. It has a diversified customer acquisition network that enables it to engage prospective customers across multiple channels.
In the recent third quarter, total income increased 30% to Rs 4,742 crore on the back of a 29% rise in interest income and a 34% growth in non-interest income. Profit after tax for the same period rose 8% to Rs 549 crore.
Shares of SBI Cards underperformed the
