In a big news for shareholders, HDFC Bank has raised overall dividend recommendation by 1,900% 19 per equity share from the profits of the financial year FY23. This dividend is 22.58% higher than the previous financial year. The lender has set a record date for next month to determine eligible shareholders. The dividend benefit for the financial year ending March 31, 2023 took place at the meeting held on Saturday.
In its regulatory filing, HDFC Bank said, the board of directors has recommended dividend Fully paid-up (i.e. 1900%) at Rs 19 per equity share of face value of Re 1 each out of net profit for the year ending March 31, 2023.
The dividend is subject to the approval of the shareholders in the forthcoming Annual General Meeting (AGM) of the Bank.
Further, the Bank fixed May 16, 2023 as the record date for determining the eligibility of members entitled to receive dividend on equity shares.
If approved by the shareholders, the bank plans to pay the dividend after the AGM to those investors whose names appear in the register of members of the bank / register of beneficial owners maintained by the depositories. NATIONAL SECURITIES DEPOSITORY LIMITED AND CENTRAL DEPOSITORY SERVICES (INDIA) LIMITED at the close of business hours on Tuesday, May 16, 2023.
In the last financial year FY22, HDFC Bank paid dividend 15.50 per equity share (1550%) to the shareholders.
catch all corporate news And updates on Live Mint. download mint news app to receive daily market update & Live business News,