SBI Card, an Indian issuer of credit cards and payment solutions, announced 25% interim dividend for the financial year 2022-2023 after reaching the milestone of 14 million cards in 2022. SBI Cards & Payment Services Limited is a Large-cap company. With a market valuation of Rs. 67,875.57 crores. and operates as a Non-Banking Financial Company (NBFC) in the financial services sector.
“In continuation of our letter dated March 16, 2023, intimating about the Board meeting to be held on March 21, 2023, we wish to inform you that the Board of Directors of the Company at its meeting held today, inter alia- Also, declared an interim dividend of Rs. 2.50/- (Rupees two and fifty paise) (25%) per equity share (face value of Rs.10 each) of the Company for the financial year 2022-23. The record date for the purpose of determining eligibility for payment of interim dividend is Wednesday, March 29, 2023 and the said interim dividend shall be credited/remitted on or before April 19, 2023,” SBI Card said in a stock exchange filing today.
SBI Cards & Payment Services has declared an equity dividend of 25.00% on face value 10 or 2.5 per share for the financial year ending March 2022. It generates a dividend yield at the current share price of Rs. 718.80 of 0.35%. Since May 15, 2020, SBI Cards & Payment Services Limited has declared 3 dividends and the company has declared dividend continuously during the last 5 years.
During the quarter ended December 2022, the company reported a net income of Rs. 3,656.15 crore as against 3,139.66 crore during the quarter ending December 2021. The net expense of the company was 2,507.54 crore during Q3FY23 as compared to Rs. 2,344.33 Cr during Q3FY22 and its EBIT reached 1,148.61 crore during Q3FY23 as compared to Rs. 795.33 Cr was reported during the corresponding quarter of FY22. SBI Cards said its net profit 509.46 Cr during Q3FY23 as compared to Rs. 385.78 Cr during Q3FY22 and the company’s EPS reached against 5.39 4.10 reported during the prior year quarter.
SBI Card shares closed today on NSE 718.80 each level, up 1.15% from previous close 710.60. The stock recorded an average total volume of 6,96,600 shares as compared to 20-day average volume of 7,24,858 shares. The stock touched a 52-week high at 1,028.65 (17-Aug-2022) and 52-week low 655.70 on (20-Jun-2022). The company recorded promoter shareholding of 69.05%, FII holding of 9.13%, DII holding of 16.72% and public holding of 5.11% during Q3FY23.
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