Board of Directors of SBI Cards and Payment Services today approved and declared an interim dividend of Rs 2.50/- per equity share of the face value of Rs 10/- each of the company for the FY2024-25. Last trading price of SBI Cards and Payment Services shares on BSE stood at Rs 853.75 per share on Bombay Stock Exchange (BSE) with intraday decline of 0.56%. The company fixed February 25, 2025 as the record date for dividend payment. The NBFC shares have been maintaining upward momentum even when BSE Sensex registered sharp decline.
The stock rose 25.99% year-to-date when Sensex fell 3.20% and BSE Financial Services index slipped 4.92%. Meanwhile, the market cap of the firm stood at Rs 81,221.84 crore and return on equity (ROE) is 15.62%. It is worth mentioning that brokerage firm HSBC maintaining bullish view on the stock and upgraded the stock target price with buy call. Check more details below:
SBI Cards Declares Dividend
According to the exchange filing of the company dated Feb 17, 2025, “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 2024-25.”
SBI Cards Sets Record Date For Interim Dividend
The BSE filing added, “The Record Date for the purpose of determining the entitlement of payment of Interim Dividend is Tuesday, February 25, 2025 and the said Interim Dividend will be credited/dispatched on or before March 18, 2025.”
SBI Card Approves Appointment of New MD & CEO
As per the exchange filing dated Feb 17, 2025, “pursuant to the superannuation of Mr. Abhijit Chakravorty from the services of State Bank of India w.e.f. March 31, 2025, approved the appointment of Smt. Salila Pantle as Managing Director & CEO (nominated by State Bank of India) (DIN: 10941529) of the Company with effect from April 1, 2025 for a period of two years, subject to necessary approval(s) as may be required including approval of the shareholders of the Company.”
Why SBI Cards Shares Are Rising Despite Decline In Q3 Net Profit?
The key factors that triggered surge in the SBI Cards and Payment Services shares include improved card issuance and softening money market rates. These factors help the stock beat the ongoing momentum prevailing on the D-Street. The firm witnessed strong improvement in card issuance that is likely to enhance earnings. Meanwhile, the recent cut in repo rate and open market operations created a advantageous rate environment. It is going to be beneficial for the firm as a big chunk of its borrowings mature with a year that would lead to potential expansion in net interest margin, according to HSBC Global.
Should You Buy SBI Cards and Payment Services Stock?
Brokerage firm HSBC Global Research recommended buy call and upgraded target price from Rs 560 to Rs 1000 per share. The analyst has indicated aforementioned factors that contributed to the upgrade in the target price of the stock.
SBI Card and Payment Services Q3 Results
The company declared a dip of 30% in its consolidated net for Q3FY25 at Rs 383.2 crore, down 30% as against Rs 549.1 crore reported in Q3FY24. Its consolidated revenue from operations surged marginally by 1% to Rs 4767 crore for Q3FY25 as compared to Rs 4742 crore reported in the corresponding quarter of last year. The firm’s net interest income or NII reported fall of 3.5% to Rs 3,790.1 crore from Rs 3,926.2 crore reported an year ago.
SBI Cards Dividend History
The large cap NBFC recommended a total of 4 dividends since May 15, 2020. In last 1-year span, SBI Cards and Payment Services announced an equity dividend amounting to Rs 2.50 per share, according to Trendlyne.
SBI Cards Bonus Share & Stock Split History
The company did not recommend any bonus share so far. It also did not split face value of its shares as well.
SBI Cards and Payment Services Shareholding
It is worth noting that Life insurance corporation of India – P & Gs fund has 6.12% stake in the firm. FII/FPI hiked holdings from 9.18% to 9.52% in December 2024 quarter. Institutional Investors have increased holdings from 25.94% to 25.99% in December 2024 quarter.
SBI Cards Shares Performance
The 52-week high price of SBI Cards shares on BSE is Rs 871.90 per share (as on 14/02/2025) and 52-week low price is Rs 649.00 per share (as on 04/06/2024), respectively. SBI Cards stock logged gains of 24.97% in last 3-months, rallied over 22% in last 6-months, and zoomed more than 18% in last 1-year.
Disclaimer: The stock has been picked from the brokerage report of HSBC Global. Moneydaily.in, the author, and the respective brokerage house will not be held accountable for any losses caused as a result of decisions based on the article. Moneydaily.in advises readers to do their own research or consult a SEBI registered investment advisor before making any investment decisions.
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