SBI Announces 150% Interim Dividend

The central board of State Bank of India (SBI) on Monday declared 150% interim dividend for financial year 2013–14. The amount calculated would be Rs. 15 per equity share of Rs. 10, SBI said in a filing to the BSE.

 

The date of payment of the interim dividend is fixed as 2 April and the dividend warrants will be payable at par at all branches of SBI, irrespective of the amount, it said. Shares of SBI closed at Rs. 1,518.50 apiece, down 0.86 percent on the BSE.

 

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Supreme Court to hear Nokia's tax evasion case

Nokia India is due to be heard by Supreme Court on Monday over the alleged tax evasion case. It is alleged that the Finnish handset company has TDS dues around Rs. 30 billion pending. Nokia had appealed SC on 12 February against Delhi High Court’s decision.

 

Delhi HC imposed new conditions stalling the deal in which Nokia was to transfer its India plant to Microsoft. The mobile major was in the process of selling its handset business to Microsoft. It is in Nokia’s contention that owing to the ruling by Delhi HC, jobs of 30,000 employees are at stake

 

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