Today, the shares of HDFC and HDFC Bank go ex-dividend; how much will investors receive?
Stock prices of HDFC Bank and its parent HDFC are in focus today as they turn ex-dividend. HDFC Bank is set to pay 1,900% dividend, while HDFC will pay 2,200% dividend for fiscal year FY23.
HDFC Bank Twin Shares
HDFC Bank and its parent company, HDFC, are attracting attention on Tuesday as their share prices turn ex-dividend. Both lenders have announced substantial dividends for their shareholders based on their net profits for the fiscal year FY23. HDFC Bank is paying a dividend of 1900%, while HDFC is set to pay a dividend of 2200% for the financial year.
Before the ex-dividend date, HDFC Bank’s share price closed at ₹1,676.20 per share, reflecting a 0.52% increase on the BSE. Similarly, HDFC’s share price ended at ₹2,784.05 per share, showing a 0.3% increase on May 15.
On Tuesday, HDFC Bank and its parent company, HDFC, are attracting attention as their share prices become ex-dividend. Both lenders have announced substantial dividends for their shareholders based on their net profits for the fiscal year FY23. HDFC Bank is paying a dividend of 1900%, while HDFC is set to pay a dividend of 2200% for the financial year.
Before the ex-dividend date, HDFC Bank’s share price closed at ₹1,676.20 per share, marking a 0.52% increase on the BSE. Similarly, HDFC’s share price finished at ₹2,784.05 per share, reflecting a 0.3% increase on May 15th.
According to a regulatory filing, the bank has further specified May 16 as the record date to determine the eligibility of members entitled to receive the dividend on their equity shares.
If approved by shareholders, the bank intends to distribute dividends to investors whose names appear in the Bank’s Register of Members or Register of Beneficial Owners maintained by the depositories, namely the National Securities Depository Limited and Central Depository Services (India) Limited. The dividend will be paid after the Annual General Meeting (AGM) and will include those shareholders whose names are listed as of the close of business hours on Tuesday, May 16, 2023.
The latest dividend declared by HDFC Bank represents an increase of 22.58% compared to the dividend paid in the previous fiscal year. In FY22, the bank distributed a dividend of ₹15.50 per equity share (1550%) to its shareholders.
Based on the current market price, HDFC Bank’s annual dividend yield stands at 1.13%. This figure represents the dividend amount as a percentage of the current market price of the bank’s shares.
HDFC, the non-banking financial company (NBFC) giant, has announced a dividend of ₹44 per equity share with a face value of ₹2 each for the financial year that ended on March 31, 2023.
Additionally, HDFC has set May 16 as the record date to determine which shareholders are eligible to receive the dividend. Shareholders listed as eligible on this date will be entitled to the dividend payment.
The dividend payment for the financial year FY23 is the highest dividend payout by HDFC since June 2001.
In the previous fiscal year FY22, the dividend payment was 1500% at ₹30 per share. In FY21, the dividend paid amounted to 1150% at ₹23 per share. In FY20, HDFC paid a dividend of 1050%, totaling ₹21 per share.
Based on the current market price, HDFC’s annual dividend yield is calculated at 1.08%. This represents the dividend amount as a percentage of the current market price of HDFC’s shares.
HDFC Bank and HDFC Investors
Investors are eagerly awaiting the ex-dividend date for HDFC Bank and HDFC shares, as they are set to receive substantial dividends. Both companies have declared generous dividends based on their net profits for the fiscal year FY23. HDFC Bank is offering a dividend of 1900%, while HDFC has announced a dividend of 2200% for the financial year.
Leading up to the ex-dividend date, HDFC Bank’s share price closed at ₹1,676.20 per share, registering a 0.52% increase on the BSE. Similarly, HDFC’s share price concluded at ₹2,784.05 per share, indicating a 0.3% increase on May 15th.
To determine the eligibility of shareholders entitled to receive the dividend on their equity shares, HDFC Bank has specified May 16th as the record date. According to regulatory filings, the bank plans to distribute dividends to investors whose names are listed in the Bank’s Register of Members or Register of Beneficial Owners maintained by depositories such as the National Securities Depository Limited and Central Depository Services (India) Limited. Shareholders who meet these criteria as of the close of business hours on Tuesday, May 16, 2023, will be eligible to receive the dividend payment.
The latest dividend declared by HDFC Bank represents an increase of 22.58% compared to the dividend paid in the previous fiscal year. In FY22, the bank distributed a dividend of ₹15.50 per equity share, equivalent to 1550% of the face value.
Considering the current market price, HDFC Bank’s annual dividend yield stands at 1.13%. This figure represents the dividend amount as a percentage of the bank’s current market price per share.
HDFC, a prominent non-banking financial company (NBFC), has also made an announcement regarding its dividend payment. The company declared a dividend of ₹44 per equity share, with a face value of ₹2 each, for the financial year that ended on March 31, 2023. To determine the eligible shareholders, HDFC has set May 16th as the record date.
The dividend payout for the fiscal year FY23 is the highest dividend recorded by HDFC since June 2001. In the previous fiscal year, FY22, HDFC paid a dividend of 1500% at ₹30 per share, while in FY21, the dividend amounted to 1150% at ₹23 per share. In FY20, HDFC distributed a dividend of 1050%, totaling ₹21 per share.
