SBI Pays Record Dividend Of Rs 6,959 Crore To Government

On Friday, the State Bank of India, the nation's largest lender, disbursed a dividend of Rs 6,959 crore to the government for fiscal 2024.

SBI Chairman Dinesh Kumar Khara presented the dividend cheque to Finance Minister Nirmala Sitharaman, with Financial Services Secretary Vivek Joshi in attendance.

"Smt @nsitharaman receives a dividend cheque of Rs 6,959.29 crore for FY 2023-24 from @TheOfficialSBI Chairman Shri Dinesh Kumar Khara," the finance ministry said in a post on X.

SBI declared a dividend of Rs 13.70 per share for financial year 2024, higher than Rs 11.30 per equity distributed for the previous year.

During FY24, the bank earned a record consolidated net profit of Rs 67,085 crore as against Rs 55,648 crore in the preceding year.

(With inputs with PTI)