Ahead of Corporate Action, SBI Shares Decline: Check Dividend Record Date

By Malvika Gurung

Investing.com — The country’s largest public-sector lending stock State Bank of India (NS:) turned ex-dividend on Wednesday, with the record date for the dividend set on May 26, 2022.

A day ahead of the record date for the dividend, the public lender’s shares declined and were trading 1.3% lower at Rs 456 apiece while writing.

While releasing its earnings report for the March ending quarter earlier this month, SBI’s board declared a dividend of Rs 7.1/share for FY22, translating to 710% of its face value of Re 1 each, while setting a record date for dividend payment at May 26, 2022.

The lender will credit the dividend to desired shareholders’ accounts on June 10, 2022, stated reports. 

SBI posted its highest-ever quarterly profit in Q4 FY22, with the consolidated figure jumping 56% YoY to Rs 9,549 crore, and net interest income climbing 15.26% YoY and 1.6% QoQ to Rs 31,198 crore, while NIM improved 29 basis points to 3.4% in the period.

On a YTD basis, the country’s largest bank’s shares have slid over 3%, far outperforming an almost 9% plunge in the headline index , and over the year, its shares have risen almost 10%.

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