Private sector SBI Life Insurance on Wednesday said the company’s board has declared an interim dividend of ₹2.50 per equity share for the current financial year 2022-23.
“We wish to inform that the meeting of Board of Directors of SBI Life Insurance Company Limited commenced at 02:30 PM and concluded at 03:00 PM on March 08, 2023 has declared an interim dividend on equity shares of the Company of ₹2.50/- (Two Rupees and Fifty Paisa only) per equity share with a face value of Rs.10 each (i.e. 25%) for the Financial Year 2022-23,” the company said in a filing.
The company has fixed 16 March, 2023 as the record date for the purpose of payment of the dividend.
The interim dividend will be paid to the shareholders on or before 6 April, 2023.
“The Interim Dividend for Financial Year 2022-23 will be paid to those shareholders whose names appear on the Register of Members of the Company or in the records of the Depositories as beneficial owners of the shares determined with reference to the Record Date of March 16, 2023, already announced for the purpose vide our letter no: SBIL/F&A-CS/NSE-BSE/2223/458 dated March 02, 2023. The aforesaid Interim Dividend will be paid to the Shareholders on or before April 06, 2023,” the company statement read.
SBI Life Insurance Company Ltd has declared five dividends since 3 April, 2018, according to Trendlyne data.
In the past 12 months, SBI Life has declared an equity dividend amounting to ₹2 per share. At the current share price of ₹1129.20, this results in a dividend yield of 0.18 per cent.
On Wednesday, shares of Sbi Life Insurance Company Ltd closed 0.071 per cent higher at ₹1,129.50 apiece. The stock has risen 68.51 per cent in the last five years.