HDFC Bank announces 1,900% dividend, fixes record date; catch latest details here

HDFC Bank dividend news: HDFC Bank's board recommended a dividend of 1,900 per cent on April 15, the day the country's largest bank by market value reported its Q4 results. Read on to know the record date and other important details about the mega lender's announcements.

HDFC Bank's board on Saturday recommended a dividend of Rs 19 per equity shares of Re 1 — a dividend of 1,900 per cent.

HDFC Bank's board on Saturday announced a dividend of Rs 19 per equity shares of Re 1 — translating into a payout of 1,900 per cent. The private sector banking behemoth said the dividend, subject to shareholders' approval, will be paid out of its net profits for the financial year ended March 2023.

HDFC Bank made the dividend announcement after its board cleared the dividend at its meeting on Saturday.

HDFC Bank dividend of Rs 19 per share: What is the record date?

HDFC Bank announced a record date of May 16 for the announced dividend.

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What is a record date and what does it imply?

A record date is a date that determines the shareholders eligible to receive the benefit of corporate action such as a payout. In this case, those holding HDFC Bank shares — which are traded with the symbol HDFCBANK on stock exchanges BSE and NSE — before the end of the trading session on May 16, 2023 will be eligible to get the dividend.

HDFC Bank dividend: When will the payout be made?

HDFC Bank said that the dividend will be paid once approved by its shareholders at its upcoming annual general meeting (AGM).

HDFC Bank Q4 results

HDFC Bank reported a 19.8 per cent year-on-year increase in net profit to Rs 12,047.5 crore for the quarter ended March 2023, missing analysts' estimates. Its net interest income (NII) — or the difference between interest earned and interest paid — increased 23.7 per cent to Rs 23,351.8 crore, according to a regulatory filing. MISSES ANALYSTS' ESTIMATE

According to Zee Business research, the lender's quarterly profit was estimated at Rs 12,300 crore and NII at Rs 24,000 crore. Read more on HDFC Bank Q4 results | Key Highlights

HDFC Bank dividend history

Here's a list of HDFC Bank dividend announcements in the past few years:

Dividend announcement date	Dividend amount (Rs)	Dividend %	Dividend Type	Ex-date
April 23, 2022	15.5	1,550	Final	May 12, 2022
June 18, 2021	6.5	650	Final	June 29, 2021
July 22, 2019	5	250	Special	August 1, 2019
April 22, 2019	15	750	Final	June 20, 2019
April 23, 2018	13	650	Final	May 31, 2018

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