SBI Life to declare interim dividend soon, sets record date for next month

SBI Life, on Monday, said that the board of directors will consider payment of interim dividend on equity shares for the financial year 2024-25 on Friday, February 28.

“We wish to inform you that, a meeting of Board of Directors of the Company is scheduled to be held on Friday, February 28, 2025, to consider and declare payment of Interim Dividend on equity shares of the Company for the Financial Year 2024-25,” the company said in an exchange filing.

SBI Life further said that it has set March 7 as the record date for determining the shareholders for the payment of interim dividend for FY 2024-25.

“The record date for determining the shareholders for the payment of Interim Dividend for FY 2024-25, if any, declared by the Board of Directors of the Company shall be Friday, March 07, 2025,” it added.

The trading window of the shares will remain closed from Monday, February 24, 2025, to Sunday, March 02, 2025, (both days inclusive) for all designated persons of the company and their immediate relatives.

SBI Life share price was trading in red in Monday's trading session. The stock fell over a per cent to ₹1,483.85, against the previous close at ₹1,490 on Friday.

SBI Life Insurance Q3 results

On Friday, January 17, SBI Life Insurance Company announced its financial results for the December quarter of FY 2024-25 (Q3FY25). The company reported a net profit of ₹550.82 crore, marking a significant 71.2 per cent increase from ₹321.75 crore in the corresponding quarter last year. On a sequential basis, the profit saw a modest 4 per cent rise from ₹529.42 crore in the September quarter.

The company's net premium income for Q3FY25 amounted to ₹24,828 crore, marking an 11 per cent increase from ₹22,316 crore in the same quarter of the previous fiscal year. Sequentially, it grew by 22 per cent from ₹20,266 crore recorded in Q2FY25.

For the nine months ending December 31, 2024, the company's New Business Premium (NBP) saw a slight 1% increase, reaching ₹26,260 crore compared to ₹26,000 crore in the same period last year. Meanwhile, renewal premiums experienced a strong year-on-year growth of 15%, rising to ₹34,730 crore from ₹30,190 crore in 9MFY24.

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