SBI Pays Record Dividend of Rs 6,959 Crore to Government
State Bank of India (SBI) paid a record dividend of Rs 6,959 crore to the government for the financial year 2023-24. The cheque was presented to Finance Minister Nirmala Sitharaman by SBI Chairman Dinesh Kumar Khara. The bank declared a dividend per share higher than the previous year.
![SBI Pays Record Dividend of Rs 6,959 Crore to Government](https://devdiscourse.blob.core.windows.net/aiimagegallery/28_05_2024_15_53_51_4453533.png)
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- India
The country's biggest lender, State Bank of India (SBI), has paid a record dividend of Rs 6,959 crore for the financial year 2023-24 to the government. The significant cheque was handed over to Finance Minister Nirmala Sitharaman by SBI Chairman Dinesh Kumar Khara, in the presence of Financial Services Secretary Vivek Joshi.
According to a post on X by the finance ministry, '@nsitharaman receives a dividend cheque of Rs 6,959.29 crore for FY 2023-24 from @TheOfficialSBI Chairman Shri Dinesh Kumar Khara.'
SBI declared an increased dividend of Rs 13.70 per share for the financial year 2023-24, up from Rs 11.30 per equity in the previous year. The bank achieved a record consolidated net profit of Rs 67,085 crore during the period, compared to Rs 55,648 crore in the prior year.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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