SBI Q4 net down 32; declares 300 dividend

Shares of the company plunged following the result and were trading down 3.38 per cent at Rs 2236 in the afternoon session.

The total income during the quarter rose 1.8 per cent to Rs 22,474.12 crore from Rs 22,060.61 crore in the corresponding period a year ago.

Income from interest was Rs 17,965.59 crore from Rs 17,342.39 crore in the same quarter a year ago.

The bank has declared a dividend of 300 per cent at the rate of Rs 30 per share of face value of Rs 10 for the financial year 2009-10.

This includes 100 per cent Rs 10 per share interim dividend paid earlier.

On an annual basis,the net profit of the bank rose by meagre 0.4 per cent at Rs 9,166.05 crore against Rs 9,121.2 crore in the previous fiscal.

Its total income rose to Rs 85,962.07 crore compared to Rs 76,479.2 crore in FY 2009.