STATE BANK OF INDIA (SBI) TO SOON TURN EX-DIVIDEND STOCK.

STATE BANK OF INDIA (SBI) TO SOON TURN EX-DIVIDEND STOCK.

The State Bank of India (SBI) has informed Indian exchanges that the bank’s Central Board declared a dividend of 7.10 per equity share, or 710 percent, for the financial year 2021-22 at its meeting on May 13, 2022. The record date for dividend payment has been set for May 26, 2022, with the dividend payment date set for June 10, 2022.

SBI informed the central board about the dividend payment decision, citing, “We advise that the Central Board of the Bank, at its meeting on May 13,2022, declared a Dividend of Rs. 7.10 per equity share (710 percent) for the financial year ended March 31, 2022, in accordance with Regulation 43 and Regulation 30 (6). The dividend payment date has been set for June 1, 2022, and the dividend warrants will be sent out prior to that day. The dividend warrants will be payable in India at par at all State Bank of India branches, regardless of the amount.”

SBI informed Indian exchanges about the record date for dividend payment, citing, “We inform you that the Register of Shareholders of State Bank of India will be closed for transfer of shares from 27.05.2022 (Friday) to 31.05.2022 (Tuesday), the record date being 26.05.2022, in accordance with Clause (a) of subregulation (1) and subregulations 2 & 5 of Regulation 42 of SEBI LODR, 2015 and other applicable provisions (Thursday). At its meeting on May 13, 2022, the Bank’s Central Board issued a dividend for the Financial Year 2021-2022.”