SBI Life announces dividend of Rs 2.5 per share

9 Mar 2023 , 08:00 AM

For the current fiscal year 2022–2023,  insurer SBI Life has declared an interim dividend of Rs 2.5. The record date for assessing whether stockholders are eligible for the dividend payment has been set as March 16th.

The business stated in a filing that the interim dividend for FY23 will be paid to shareholders whose names appeared on the company’s register of members or in the depositories’ records as beneficial owners of the shares as determined with reference to the record date of March 16.

The interim dividend will be paid to the Shareholders on or before April 6.

The stock is trading relatively flat on NSE on Wednesday at Rs1,129.40 a share. The stock has lost around 8% of its value so far this year. SBI Life Insurance announced an equity dividend of Rs2 per share over the past 12 months, yielding a dividend of 0.18%.

While total revenue grew to Rs26,626 crore in the most recent December quarter compared to Rs20,458 crore in the October-December period of the previous year, SBI Life Insurance reported a net profit decline of over 16% at Rs304 crore.

One of the top life insurance providers in India, SBI Life offers a wide range of products for both individual and group customers, including protection, pension, savings, and health solutions. The organization has a sizable individual agent network of over 193,635 agents, 59 corporate agents, and 14 bancassurance partners thanks to its widespread presence throughout the nation.

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