HDFC Group Midcap Stock Q4 PAT Jumps 10%, Recommends Rs 48/Share Dividend; Details Inside

HDFC Asset Management Company Ltd. (HDFC AMC) recommended a dividend of Rs. 48 per equity share of Rs. 5 each for the financial year 2022-23.

The recommended dividend is subject to the approval of shareholders at the annual general meeting (AGM). If approved, the recommended dividend will be dispatched from the day after the AGM.

In the fourth quarter, HDFC AMC's standalone net profit increased 10% to Rs 376 crore from Rs 343 crore in the corresponding period last year.

In the meantime, operating revenue increased 5% to Rs 541 crore for the quarter that ended in March from Rs 516 crore in the same period last year.

HDFC AMC is an HDFC Group's midcap company engaged in the mutual fund industry. It has a market capitalisation of Rs 37,682..27 crores.

Recommends Rs. 48 per equity share dividend

According to the regulatory filing by the Board of Directors of the HDFC Asset Management Company Ltd., "the Board of Directors in the said meeting has recommended a dividend of Rs. 48/- per equity share of Rs. 5/- each of the Company, for the financial year ended March 3 1, 2023, subject to approval of shareholders at the ensuing Annual General Meeting. The dividend if approved by the shareholders, will be dispatched/remitted commencing from the day after the ensuing Annual General Meeting."

Stock Overview - Share Price, 52-Week Low/High, and Returns

On Tuesday, the stock of HDFC AMC closed 0.86% lower at Rs 1,7765.60 apiece. Its 52-week high is Rs 2,314.65 apiece and its 52-week low is Rs 1,589.50 apiece, respectively.
The stock has fallen 2.5% in 1 week and gained 5.54% in 1 month. It declined 11.94% in 1 year and 27.27% in 3 years, respectively. The stock was listed on 6 August 2018, and since then its share value declined 2.77%.

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