“We are pleased to inform you 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 %) 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,” HDFC Bank said in a filing.
The private sector lender said the record date for determining the eligibility of members entitled to receive dividend on equity shares is Friday, May 10, 2024.
“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,” it said.The decision was taken today at a board meeting after which the lender announced a 37.1% year-on-year (YoY) increase in its standalone profit at Rs 16,512 crore in the March quarter and 24.5% growth in net interest income (NII) to Rs 29,077 crore.”The credit environment in the economy remains benign, and the bank’s credit performance across all segments continues to remain healthy. The bank’s GNPA at 1.24% has shown an improvement over the prior quarter,” HDFC Bank said in a filing.
Shares of HDFC Bank ended Friday’s session 2.5% higher at Rs 1531.30 on BSE, a day before the results were announced.
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