HDFC, HDFC Bank shares to go ex-dividend today

16 May 2023 , 09:11 AM

The shares of India’s largest private lender HDFC and HDFC Bank will turn ex-dividend on Tuesday, May 16. The bank  recommended giving dividend of Rs 19 per share of Re 1 each fully paid up equity share, out of its net profit for the year ended March 2023.

The dividend will be paid to eligible shareholders of HDFC Bank after the ensuing Annual General Meeting.

The dividend is higher compared to an amount of Rs 15.5/share of Re 1 each for the preceding financial year 2021-22.

HDFC had also declared interim dividend of Rs 44 per equity share of face value Rs 2 per share for the financial year ended on March 2023.

The record date for determining the shareholders entitled to the interim dividend for the fiscal 2023 is set as May 16. The dividend will be paid to shareholders from June 1.

HDFC stock closed at 0.31% higher to previous close at Rs 2,785 crore on Monday.