HDFC Bank Recommends 1900% Dividend, Fixes Record Date; Check Details Here

India's Largest private sector lender HDFC Bank today, 15 April 2023, declared its March 2023 quarter and full financial year 2022-23 results. The bank has also declared a dividend to the shareholders. The information provided by the bank in the exchange filing states that shareholders will get a dividend of 1900%. The record date for dividends has also been set by the bank as May 16, 2023.

HDFC Bank recommended a Dividend of Rs 19/share

The Board of Directors of HDFC Bank in their regulatory filing has said, "Pursuant to Regulations 30, 42 and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended from time to time ("the Regulations"), we are pleased to inform that the Board of Directors, at its meeting held today, has recommended a dividend of Rs. 19.00 per equity share of Re. 1/- each fully paid up (i.e. 1900 %) out of the net profits for the year ended March 31, 2023, subject to the approval of the shareholders at the ensuing Annual General Meeting ("AGM") of the Bank."

It further said, "The record date for determining the eligibility of members entitled to receive dividend on equity shares is Tuesday, May 16, 2023. 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 Tuesday, May 16, 2023."

HDFC Bank Stock performance

HDFC Bank stock last traded at Rs 1,692.45/share, up 0.45% from the previous close of Rs 1,684.90/share. It recorded the 52 week high on 24 January 2023 at Rs 1,702.40/share and 52 week low on 17 June 2022 at Rs 1,271.60/share, respectively.

The stock has given 1.57% positive return in 1 week, and 7.9% in 1 month, respectively. It has given 15.53% positive return in 1 year. It has given 89.03% positive return in 3 years and 75.84% in 5 years, respectively.

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