Q4 Results: HDFC Bank declares dividend ₹19.50 per equity share
HDFC Bank on Saturday said its Board of Directors has recommended a dividend of ₹19.50 per equity share of Re. 1/- each fully paid up (i.e. 1950 per cent) out of the net profit for the fiscal year ended March 31, 2024.
The company has fixed May 10, 2024 as the record date to determine the eligibility of shareholders entitled to receive the dividend.
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In a stock exchange filing, HDFC Bank said: we are pleased to inform 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.
The record date for determining the eligibility of members entitled to receive dividend on equity shares is Friday, May 10, 2024,” it added.
“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, 2024,” HDFC Bank also said.
Financial Results
HDFC Bank on on Saturday announced its financial results for the fourth quarter (January-March period) of fiscal year 2024 (FY24).
India’s largest private lender reported 37 per cent rise in its net profit at ₹16,512 crore for the fourth quarter of FY24.
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Its consolidated revenue surged by 133.6 per cent to ₹80,700 crore in the Q4 FY24 from ₹34,550 crore a year ago.
Its earnings per share (EPS) for the March quarter stood at ₹ 23.2 and book value per share as of March 31, 2024 was at ₹ 600.8.
HDFC Bank also said that the gross non-performing asset (NPA) stood at 1.24 per cent in the Q4 FY24, down from 1.26 per cent in the Q3 FY24. On the other hand, the net NPA for the fourth quarter stood at 0.33 per cent as compared to 0.31 per cent.
HDFC Bank shares ended 2.5 per cent higher on Friday.
