SBI's Record Dividend: Boosting Government Coffers
State Bank of India has paid a record dividend of Rs 8,076.84 crore to the government for the fiscal year 2024-25. This follows a 16% increase in net profit, reaching Rs 70,901 crore. SBI had previously distributed Rs 6,959.29 crore as a dividend last year.
- Country:
- India
The State Bank of India (SBI), the country's largest lender, has significantly contributed to the government's finances this year with a record dividend payment of Rs 8,076.84 crore for the 2024-25 fiscal year.
The dividend cheque was formally handed to Finance Minister Nirmala Sitharaman by SBI Chairman C S Setty, with key financial officials in attendance, including Financial Services Secretary M Nagaraju and Finance Secretary Ajay Seth.
SBI announced a dividend of Rs 15.90 per share, surpassing last year's payout of Rs 13.70 per share. The bank saw a remarkable net profit increase of 16%, achieving Rs 70,901 crore compared to the previous year's Rs 61,077 crore.
(With inputs from agencies.)
Advertisement
ALSO READ
KFC Achieves Record Net Profit of Rs 98.16 Crore
LIC reports 38 pc y-o-y jump in net profit to Rs 19,013 crore for the January-March quarter: Filing.
KEC International Posts 76% Net Profit Surge Amid Strategic Wins
Steel major SAIL posts over 11 pc rise in consolidated net profit to Rs 1,250.98 cr in Q4 FY25: Co filing.
LIC Shares Surge 9% As Net Profit Climbs 38%
Google News