1950% Dividend Stock: Leading private sector lender HDFC Bank Ltd is all set to pay dividends to its shareholders. A dividend is the distribution of a portion of a company’s earnings to its shareholders, usually in the form of cash or additional shares of stock. The Bank informed the bourses that its board of directors has recommended a whopping 1950 per cent dividend payment on each stock. The said dividend, however, remains subject to approval, subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM) of the Bank. If approved, the next dividend will be paid to shareholders, subject to their eligibility on the record date.
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HDFC Bank Dividend 2024 Amount
HDFC Bank Limited has said in an exchange filing on the BSE that the company’s Board has recommended paying 2800 per cent dividend on each stock having a face value of Re 1, if approved. The said 1950 per cent dividend translates to Rs 19.50 apiece.
“We are pleased to inform that the Board of Directors, at its meeting held today, has recommended a dividend of Rs 19.50 per equity share of Re 1 each fully paid up (i.e. 1950 per cent) out of the net profits for the year ended March 31, 2024, subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM) of the Bank,” said the Bank in an exchange filing.
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HDFC Bank Dividend 2024 Record Date
HDFC Bank, in the exchange filing, has informed the bourses that it also set the record date for determining the eligibility of shareholders’ participation in the next dividend payment or upcoming corporate action. HDFC Bank has fixed Friday, May 10, 2024, as the record date.
“Dividend, if approved by the shareholders of the Bank, shall be paid after the AGM to those shareholders, whose names appear in the Bank’s Register of Members/ Register of Beneficial Owners maintained by the Depositories viz., National Securities Depository Limited and Central Depository Services (India) Limited as at the close of business hours on Friday, May 10, 2024,” said HDFC Bank in an exchange filing on the BSE.
HDFC Bank Dividend 2024 Ex-Date
HDFC Bank shares will trade ex-dividend date on May 10, 2024, as per the data available on the BSE.
HDFC Bank Dividend Yield
At the current market price, HDFC Bank shares have a dividend yield of 1.28 per cent.
HDFC Bank Dividend History
HDFC Bank boasts a rich history of paying dividends to its shareholders. As per the BSE data, HDFC Bank has paid a dividend of Rs 19 in 2023, Rs 15.50 in 2022, and Rs 6.50 in 2021.
