SBI Cards and Payment Services Ltd has declared an interim dividend of ₹2.50 per equity share (25% of face value ₹10) for FY 2025-26, with March 11, 2026 as the record date and payout on or before April 3, 2026.

SBI Cards Interim Dividend – Key Highlights

• Company: SBI Cards and Payment Services Ltd (SBICARD), India’s leading pure-play credit card NBFC.

• Dividend type: Interim dividend for FY 2025-26 (FY26).
• Dividend amount: ₹2.50 per share, i.e., 25% of face value ₹10.
• Record date: March 11, 2026 (Wednesday) – investors must own shares as of this date to be eligible.
• Payment date: Dividend to be credited/dispatched on or before April 3, 2026 to eligible shareholders.
• Share price reaction: Stock recently traded around ₹730–735, with modest positive bias after the announcement, supported by strong Q3 results.

Business & Financial Context Behind the Dividend

• Q3 FY26 performance:

  • Net profit up about 45% YoY to nearly ₹557 crore, vs around ₹383 crore in the same quarter last year.
  • Total income rose to roughly ₹5,300–5,350 crore, vs about ₹4,770 crore YoY.
• Business metrics:
  • Total card spends grew around 30–33% YoY to approx ₹1.14 lakh crore.
  • Cards-in-force increased to about 2.18 crore vs 2.02 crore a year ago.
• Asset quality & capital:
  • Gross NPA improved to about 2.8–2.9%, from above 3% last year.
  • Capital adequacy (CRAR) around 24–25%, with Tier-1 near 19%, indicating a strong capital buffer.

These numbers support SBI Cards’ ability to maintain a stable interim dividend payout of ₹2.50 per share, consistent with its dividend history over the last few years.

Strengths of SBI Cards Interim Dividend

• Consistent interim dividend of ₹2.50 per share for multiple years reflects a stable payout policy.
• Strong profitability with ~45% YoY net profit growth in Q3 FY26 supports shareholder rewards.
• High capital adequacy (CRAR ~24–25%) gives comfort on solvency and capacity to pursue growth plus dividends.
• Growing card spends and card base indicate robust underlying business momentum in the Indian credit card market.
• Backed by State Bank of India (SBI), giving brand strength, distribution and customer access advantages.

Risks Around SBI Cards & Its Dividend

• Dividend amount (₹2.50) is modest relative to share price, so dividend yield is low, making it more of a growth stock than high-yield income stock.
• Net interest margin (NIM) compression and rising operating expenses (up over 20%) can pressure future profitability.
• Asset quality risk in unsecured credit card loans, especially if macro environment weakens or delinquencies rise. ​
• Competitive intensity from banks and fintechs in cards/BNPL could impact fee income and customer acquisition costs.
• As an NBFC, SBI Cards is exposed to regulatory changes (interest caps, charges, underwriting norms) that can affect earnings and payout capacity.

FAQs

1. What interim dividend has SBI Cards announced for FY 2025-26?
SBI Cards and Payment Services has announced an interim dividend of ₹2.50 per equity share, which is 25% of the face value of ₹10 for FY 2025-26.

2. What is the record date for SBI Cards’ interim dividend?
The record date to determine eligible shareholders is March 11, 2026 (Wednesday). Investors must hold SBICARD shares in their demat by the record date to receive the dividend.

3. When will the interim dividend be paid or credited?
The company has stated that the interim dividend will be paid/credited or dispatched on or before April 3, 2026 to all eligible shareholders.

4. How has SBI Cards performed financially to support this dividend?
In Q3 FY26, SBI Cards reported around 45% YoY growth in net profit to about ₹557 crore, and total income grew to roughly ₹5,300–5,350 crore, with improved gross NPA and strong capital adequacy.

5. What is the dividend history of SBI Cards in recent years?
Over the last few financial years, SBI Cards has typically announced interim dividends of ₹2.50 per share, pointing to a consistent payout track rather than aggressive dividend hikes.

6. Is SBI Cards mainly a dividend stock or a growth stock?
Given the modest absolute dividend (₹2.50) and low yield vs price, SBI Cards is better viewed as a growth-oriented credit card business that also offers steady but small dividends, not a high-yield income stock.

7. What should investors watch going forward?
Key factors include NIM trends, credit costs, GNPA/NNPA movement, competitive dynamics in credit cards/BNPL, and management guidance on payout ratio vs growth capex; these will drive both future earnings and dividends.