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.

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.