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Dividend from public sector banks in FY24
May 23 , 2024
38 days
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- The government will get about 30 per cent more dividends from public sector banks (PSBs) in FY24 vis-a-vis FY23.
- PSBs will pay dividends aggregating ₹18,013 crore to the government in FY24 against ₹13,804 crore in the preceding financial year.
- This calculation does not take into account the 15 per cent dividend distribution tax as the same also goes to the government.
- Out of 12 PSBs, 10 have declared dividends.
- The top four PSBs to pay rich dividends (relative to face value) in FY24 are – State Bank of India (SBI), Bank of Baroda (BoB), Canara Bank and Indian Bank.
- Central Bank of India and Indian Overseas Bank did not declare dividend.
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