SBI Pays Record Dividend To Govt For FY 2022-23

State Bank of India (SBI) on Friday paid a dividend of Rs 5,740 crore for the financial year 2022-23 to Finance Minister Nirmala Sitharaman, as per a PTI report.

The dividend cheque was presented by SBI chairman Dinesh Kumar Khara in the presence of Financial Services Secretary Vivek Joshi.

"Smt @nsitharaman receives a dividend cheque of Rs 5,740 crore for FY 2022-23, which is the highest-ever dividend given by State Bank of India to Govt of India for a financial year, from Shri Dinesh Kumar Khara, Chairman -@TheOfficialSBI. Secretary - @DFS_India Shri Vivek Joshi is also present on the occasion," the finance minister's office said in a tweet.

SBI had declared a dividend of Rs 11.30 per equity share (1,130 per cent) for the financial year ended March 31, 2023, reported PTI.

Meanwhile, last trading price of SBI share is Rs 571.30 per share on BSE with intraday gain of 0.92%. Its 52-week high price is Rs 629.65 per share and 52-week low price is Rs 430.80 per share, respectively. It has a market capitalisation of Rs 5,09,863.08 crore. In last 1-year, SBI share offered return of 29%, gave 34% return in last 2-years, and 230% return in last 3-years.

For the full 2022-23, SBI's net profit increased 59% to Rs 50,232.45 crore. The profit in the 2021-22 fiscal was Rs 31,675.98 crore, according to a PTI report.