On Wednesday, mortgage lender HDFC (Housing Development Finance Corporation) Limited announced an interim dividend of Rs 3.50 per share for the financial year 2018-19. The objective of giving away dividends is to distribute the dividends received by the company from its subsidiaries.
In a regulatory filing released after the market hours the non-banking finance company said, "we are pleased to inform you that the Board of Directors of the Corporation.... has inter alia approved the payment of interim dividend of Rs 3.50 per equity share of Rs 2 each of the Corporation, for the financial year ending 31 March, 2019, as against an interim dividend of Rs 3.50 per equity share for the financial year ended March 31, 2018."
It also said that the record date for the determination of shareholders entitled to receive the said interim dividend was decided to be 18 March 2019. Payment of the dividend to the said shareholders will begin from 25 March 2019.
For the December 2018 ended quarter HDFC had posted a 60.11 percent year-on-year fall in profit at Rs 2,113.80 crore from Rs 5,300 crore in the previous year.