Dividend stock: SBI Card declares dividend of Rs 2.5 per share — check out record date, payment date

Dividend stock, SBI Card Dividend Date 2023: The board of SBI Cards and Payment Services (SBICARD) cleared a dividend of Rs 2.5 per share on Tuesday — a 25 per cent payout given its face value of Rs 10.

Dividend stock, SBI Card Dividend Date 2023: SBI Cards and Payment Services' board announced a 25 per cent dividend on March 21 with a record date of March 29. | Image: Pixabay

Dividend stock, SBI Card Dividend Date 2023: The board of SBI Cards and Payment Services (SBICARD) announced a dividend of Rs 2.5 per share of face value of Rs 10 on Tuesday, March 21. This is the credit card issuer's second interim payout in the current financial year.

Prior to the latest dividend, SBI Card had declared a dividend of the same size in May 2022.

" We wish to inform you that the Board of Directors of the Company, at its meeting held today, has inter alia, declared an Interim Dividend of Rs. 2.50/- (Rupees Two and Fifty Paise) (25 %) per equity share (face value of Rs. 10/ each) of the Company for the financial year 2022-23," the filing said.

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SBI Card dividend: Record date 2023

The company has already fixed the record date for the payment of any such interim dividend. Simply put, any dividend declared by the SBI Card's board on Tuesday will have March 29 as the record date.

"The Record Date for the purpose of determining the entitlement of payment oflnterim Dividend is Wednesday, March 29, 2023," the filing said.

What is a record date?

A record date determines the shareholders eligible to benefit from corporate action such as a dividend payout.

SBI Card dividend Payment Date

The dividend amount will be credited directly into the shareholders' bank account linked to their Demat account on the payment date. The payment date shall be April 19.

"The said Interim Dividend will be credited/dispatched on or before April 19, 2023," the filing said.