SBI Cards and Payment Services Ltd.'s board of directors declared on Monday an interim dividend of Rs 2.5 per equity share for the shareholders.
The dividend translates to 25% of the Rs 10 face value of each share. The record date for the purpose of determining the entitlement of payment of interim dividend has been fixed as Feb. 25. The dividend will be credited or dispatched on or before March 18, the credit card company said in an exchange filing.
The board has also approved the appointment of Salila Pande as managing director and chief executive officer with effect from April 1 for a period of two years. This follows the superannuation of Abhijit Chakravorty from the services of parent State Bank of India with effect from March 31.
Pande was nominated by SBI and her appointment is subject to necessary approvals as may be required, including approval of the shareholders of the company. Pande is not related to any of the firm's directors, the non-banking financial company said.
SBI Cards has already closed the trading window for dealing in its securities from Feb. 12 and this will continue till Wednesday.
Shares of SBI Cards closed 0.56% lower at Rs 853.75 apiece on the BSE before the announcement, compared to a 0.08% advance in the benchmark Sensex.
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