1950% DIVIDEND Stock: Private sector bank’s shares approach ex-date; are you eligible?
1950% dividend stock: private sector lender hdfc bank’s shares approach ex-date; check record date payment and more – are you eligible?
1950% Dividend Stock: Shares of India’s largest private sector lender, HDFC Bank, are approaching their ex-dividend date, as the bank’s board has recommended an interim dividend payout of 1950 per cent per share with a face value of Rs 10 apiece. A dividend is the distribution of a portion of a company’s earnings to its shareholders, usually in the form of cash or additional shares of stock.
HDFC Bank Dividend Amount
The said 1950 per cent dividend payout translates to Rs 19.50 per equity share of HDFC Bank with a face value of Rs 10 each. The recommended dividend, however, remains to be approved by the shareholders at the ensuing Annual General Meeting (AGM) of the Bank.
“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,” said the Bank in a regulatory filing on the BSE.
Dividend Record Date, EX-Date
The Bank, in the exchange filing, has said that the Board has fixed Friday, May 10, 2024, as the record date for determining the eligibility of members entitled to receive dividend on equity shares. Shares of HDFC Bank will turn ex-dividend date tomorrow, as per the BSE data.
The eligibility for receiving a dividend on the ex-record date depends on whether you own the stock before or on that date. If you own the stock before the ex-dividend date, you are eligible to receive the dividend.
HDFC Bank Dividend Payment Date
According to the exchange filing, the aforesaid Interim Dividend, if approved by the shareholders of the Bank, shall be paid after the AGM to eligible shareholders.
“..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,” said the Bank in a regulatory filing on the BSE.
HDFC Bank Dividend History
HDFC Bank has a rich history of paying dividends to its shareholders. The BSE data showed that the bank has paid a dividend of Rs 29 in 2023, Rs 15.50 in 2022, and Rs 6.50 in 2021 to its shareholders.
HDFC Bank Dividend Yield
At the current share price, HDFC dividend yield stands at 1.35 per cent.
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