The largest private bank in India announced a dividend of Rs 16.5 per equity share in June 2011. In fact, it is the second-highest dividend by HDFC Bank since April 20, 2001.
HDFC Bank has declared 22 dividends since April 20, 2001. Out of these, the company had declared 21 final dividends, and the remaining one was a special dividend.
The only special dividend by the lender was in August 2019, when it gave Rs 5 per equity share. In the past 12 months, HDFC Bank has declared an equity dividend amounting to Rs 6.50 per share.
At the current share price of Rs 1,355.60 on BSE, this results in a dividend yield of 0.48 per cent. Barring the latest announcement, HDFC Bank has delivered double-digit dividends only on three instances.
In 2020, HDFC Bank did not announce any dividend for the investors, citing the pandemic hit turbulence to the business. Similarly, in 2001 and 2002, the dividend announcement from the lender stood at zero.
However, the latest recommendation of Rs 15.50 dividend is subject to the shareholders approval at the annual general meeting (AGM), according to the regulatory filing.
The record date has been fixed as May 13, 2022. Investors having shares in their account as of record date will be eligible for the entitlement of equity shares.
The bank reported a profit of Rs 8,187 crore in the year-ago quarter. Earlier this month, the lender had announced its mega-merger with its parent company HDFC in about 18 months.
