🌟 SBI Card Share Price Update 🌟
On Tuesday, after the market closed, SBI Card announced a dividend for its investors. The company informed the stock market that it will be declaring an interim dividend of 25% to shareholders. This means investors will receive a dividend of ₹2.5 per share. The company’s share closed at ₹700 on Tuesday.
SBI Card has declared an interim dividend of 25% (₹2.5 per share) based on a marked price of ₹10. The record date for the dividend is March 28, 2024, and the payment will be made by April 17, 2024. On Thursday (March 21, 2024), the share was trading at ₹702, up by 1.38%.
In the third quarter of the financial year 2024, SBI Cards’ revenue increased by 30% annually to ₹4,742 crore, compared to ₹3,656 crore in the same period last year. The company stated that its total non-performing assets (NPAs) as of December 31, 2023, had grown by 2.64%, up from 2.35% as of March 31, 2023. Additionally, the net NPA as of December 31, 2023, was 0.96%, compared to 0.87% as of March 31, 2023.
Dividends are a distribution of a portion of the company’s profits to shareholders. The amount of dividend to be received by shareholders is determined by the company’s board of directors. Dividends are received by shareholders who hold shares until the ex-dividend date. Dividends can be paid in cash or in the form of additional shares.
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