HDFC Bank Recommends 1900% Dividend From Net Profits Of FY23, Fixes Record Date

In its regulatory filing, HDFC Bank said, the board of directors has recommended a dividend of ₹19 per equity share having a face value of Re 1 each fully paid up (i.e. 1900%) out of the net profits for the year ended March 31, 2023.

The dividends are subject to the approval of the shareholders at the ensuing annual general meeting (AGM) of the bank.

Further, the bank fixed May 16, 2023, as the record date to determine the eligibility of members entitled to receive the dividend on equity shares.

If approved by shareholders, the bank plans to pay dividend after the AGM to those investors 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 Tuesday, May 16, 2023.

In the previous fiscal FY22, HDFC Bank paid a dividend of ₹15.50 per equity share (1550%) to shareholders.