SBI pays Rs 8,076 cr dividend to Govt

New Delhi, Jun 9 (PTI) The country's biggest lender State Bank of India (SBI) on Monday paid a dividend of Rs 8,076.84 crore to the government for the financial year 2024-25.

The dividend cheque was presented to Finance Minister Nirmala Sitharaman by SBI Chairman C S Setty in the presence of Financial Services Secretary M Nagaraju and Finance Secretary Ajay Seth.

"Smt @nsitharaman receives a dividend cheque of Rs 8076.84 crore for FY 2024-25 from Shri C S Setty, Chairman-@TheOfficialSBI," the finance minister's office said in a post on X.

SBI declared a dividend of Rs 15.90 per share for the financial year 2024-25, higher than Rs 13.70 per equity share distributed for the previous year. SBI had paid a dividend of Rs 6,959.29 crore to the government last year.

During 2024-25, the bank earned a record net profit of Rs 70,901 crore, as against Rs 61,077 crore in the preceding year, registering a 16 per cent increase.