Rs 41.50 Dividend, 1:10 Split: PSU Lender To Consider Results, Dividend On May 9; Buy?

Leading public sector lender State Bank of India (SBI) today announced its upcoming meeting of Board of Directors scheduled to be held on May 9, 2024 to consider financial results and recommends dividend, if any. Last trading price of State Bank of India share on BSE is Rs 830.05 per share with intraday gain of 0.53%. SBI share offered return of 45% in last 6-months and 170% in last 5-years.

Brokerage firm Sharekhan has recommended buy call to State Bank of India share with target price of Rs 915 apiece. SBI declared its highest dividend in 2013 amounting to Rs 41.50 per share. SBI split face value of its share once in the ratio of 1:10 in 2014. More details below:

SBI To Consider Results, Dividend: As per the regulatory filing of SBI dated May 2, "a meeting of the Central Board of the Bank will be held on Thursday, 9 th May 2024 at Mumbai to consider the financial results of the Bank for the quarter/year ended 31st March, 2024. The Central Board of the Bank may also consider declaration of dividend, if any, for the FY 2023-24."

State Bank of India Shares Performance & Return: The 52-week high price of State Bank of India shares on BSE is Rs 834.60 apiece (as on 30/04/2024) and 52-week low price is Rs 543.15 apiece (as on 26/10/2023), respectively. SBI has a market capitalisation of Rs 7,40,787.41 crore. SBI has a ROE of 15.89 and PE of 12.98. The EPS (TTM) is 63.95. State Bank of India Ltd shares gave return of 28% in last 3-months, jumped 44% in last 1-year, rallied 69% in last 2-years, and offered gain of 135% in last 3-years. In last 5-years, the scrip gained 170%.

Sharekhan On SBI Share: According to the analyst, "Maintain Buy with a revised PT of Rs. 915: quality remains healthy. We believe that the bank is likely to sustain RoA of ~1% in the near to medium term. We also acknowledge that the bank needs to ramp-up other avenues of productivity (fee income and opex) to drive RoA/RoE expansion, which would also help in building up higher capital buffers through internal accruals."

SBI Dividend History: State Bank of India announced 22 dividends since July 2, 2001. In last 12 months, SBI announced an equity dividend amounting to Rs 11.30 per share (highest dividend in 9-years). At the current share price of Rs 830.0500, State Bank of India offers a dividend yield of 1.36%. In 2014, it announced Rs 15/ share final dividend and Rs 15/share interim dividend. Its highest dividend was declared in 2013 amounting to Rs 41.50 per share.

SBI Stock Split History: State Bank of India split face value of its share once since November 20, 2014. SBI last split the face value of its shares from Rs 10 to Re 1 in 2014.SBI share traded ex-split as on November 20, 2014.

State Bank of India Financials: The country's largest lender SBI on February 3, 2024 declared its net profit at Rs 9163 crore for the October to December quarter for the financial year 2023-24, down 35% as against Rs 14,205 crore reported in the corresponding quarter of last year. SBI said in the press release, it had an one-time exceptional item of Rs 7,100 crore.

Meanwhile, net interest income (NII) of SBI declared at Rs 39,815 crore and net interest margin stood at 3.22%.

SBI's gross non-performing asset (NPA) announced at 2.42%, down 3.14% declared in the similar quarter of last year. Net NPA for the quarter declared at 0.64% compared to 0.77% last year.

Disclaimer: The stock has been picked from the brokerage report of Sharekhan. Greynium Information Technologies, the Author, and the respective Brokerage house are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to consult with certified experts before making any investment decision.