Rs 70 DIVIDEND by HDFC Bank-backed company; Record date on June 18
rs 70 dividend by hdfc bank-backed company hdfc amc; record date on june 18
Rs 70 per share DIVIDEND, HDFC AMC Dividend 2024: An Asset Management Company (AMC) has declared an interim dividend of Rs 70 per share in its meeting held earlier this month on Friday, June 7. This is the highest-ever dividend declared by the company in its history post-listing.
A dividend is a company's reward to its investors for their investment in the business. It is paid in cash from earnings.
The company in question is HDFC AMC. It is a constituent of S&P BSE 200 and boasts a market cap of Rs 85,777.87 crore, as of the current market price. Its stock has delivered an impressive 91 per cent return in the past one year.
“Company for the last two financial years has been paying dividend to its shareholders in the month of June, the Board has, accordingly, approved a declaration of Interim Dividend of Rs. 70/- per equity share of Rs. 5/- each of the Company, for the financial year ended March 31, 2024, instead of the final dividend as proposed earlier,” said company in a filing to the stock exchanges.
On Friday, June 14, HDFC AMC's shares closed at Rs 4,018 per share on NSE, up Rs 22.15 or 0.55 per cent against previous close.
HDFC AMC Dividend Record Date 2024
The board has declared June 18 as the record date for ascertaining the entitlement of the shareholders to the interim dividend.
"Further, as already intimated, the Record Date for the purpose of ascertaining the entitlement of the shareholders to the interim dividend, as declared by the Board of Directors, shall be Tuesday, June 18," the company said.
HDFC AMC Dividend Payment Date 2024
The board has fixed June 30 as the payment date for the payment date of its forthcoming dividend.
"... dividend will be paid on or before June 30, 2024," said the company in the exchange filing.
HDFC AMC Dividend History
HDFC AMC has announced a total of seven dividends since March 2019, post-listing. In 2019, the AMC declared two dividends, each amounting to Rs 12. In 2020, a dividend of Rs 28 was declared, and in 2021, it was Rs 34. Subsequently, in 2022 and 2023, the company declared dividends of Rs 42 and Rs 48, respectively.
HDFC AMC Q4 Results 2024
HDFC AMC Limited has reported a net profit rise to Rs 541.1 crore in the last three months of fiscal year 2023-24. The company’s revenue also climbed 29 per cent to Rs 695.5 crore in the last quarter of the FY24.