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.