Synopsis: State Bank of India (SBI) declared a dividend of Rs. 13.70 per share for the financial year 2023-24, up from Rs. 11.30 per share the previous year. The bank achieved a record consolidated net profit of Rs. 67,085 crore, compared to Rs. 55,648 crore the prior year. As a result, SBI paid a dividend of Rs. 6,959 crore to the government.
SBI declared a dividend of Rs. 13.70 per share for the financial year 2023-24, up from Rs. 11.30 per share in the previous year.
In 2023-24, the bank achieved a record consolidated net profit of Rs. 67,085 crore, compared to Rs. 55,648 crore in the prior year.
On Friday, State Bank of India (SBI), the country's largest lender, paid a dividend of Rs. 6,959 crore to the government for the financial year 2023-24.
SBI Chairman Dinesh Kumar Khara presented the dividend cheque to Finance Minister Nirmala Sitharaman in the presence of Financial Services Secretary Vivek Joshi.
"Smt @nsitharaman receives a dividend cheque of Rs. 6959.29 crore for FY 2023-24 from @TheOfficialSBI Chairman Shri Dinesh Kumar Khara," the finance ministry posted on X.
SBI declared a dividend of Rs. 13.70 per share for 2023-24, an increase from Rs. 11.30 per share in the previous year.
The bank's consolidated net profit for 2023-24 was a record Rs. 67,085 crore, up from Rs. 55,648 crore the year before.
In conclusion, SBI's impressive financial performance in the financial year 2023-24, highlighted by a record consolidated net profit of Rs. 67,085 crore, enabled the bank to declare a higher dividend of Rs. 13.70 per share.
This performance also resulted in a substantial dividend payment of Rs. 6,959 crore to the government.
The presentation of the dividend cheque by SBI Chairman Dinesh Kumar Khara to Finance Minister Nirmala Sitharaman underscores SBI's pivotal role as the country's largest lender, contributing significantly to the government's revenue.
