This Banking Stock, Rises 7% in 1 week, Now Fixes Record Date To Pay Dividend

IndusInd Bank is a universal Bank with a widespread banking footprint with over 2.5 crore customers, over 5,000 distribution points and nearly 2,000 branches across the country. It offers a wide array of products and services for individuals and corporates including microfinance, personal loans, personal and commercial vehicles loans, credit cards, SME loans.

It has also emerged as the preferred banking partner for various Government entities, PSUs and large corporates. The board of the company has now fixed the record date to pay equity dividend to its shareholders. Check details below:

1. IndusInd Bank Fixes Record Date To Pay Dividend

The board of directors of the company in their BSE filing stated, "In terms of Regulation 42 of the SEBI Listing Regulations, the Bank has fixed Friday, August 12, 2022 as the Record Date (Cut-off Date) for the purpose of ascertaining voting rights of the Members at the 28th AGM and for entitlement of Dividend, if approved by Members." The bank has declared an equity dividend of 85% or Rs 8.50 per share of the face value of Rs 10 each.

2. IndusInd Bank Stock Outlook

The current market price of the stock is Rs 879 apiece with the 52-week high at Rs 1242 apiece and 52-week low at Rs 763 apiece, respectively. It has registered surging net cash and cash from operating activity. There is no apparent threat to the stock. The stock has given a return of 12.15% in 1 month. It has given a negative return of 44% in 5 years,

3. IndusInd Bank Dividend History

It has a good dividend history and declared dividend in the last 5 years. It declared an equity dividend of 50% or Rs 5 per share for the year ending March 2021. It has a dividend yield of 0.57% at the current market price of the stock of Rs 879 apiece.