HDFC Bank Announces Dividend for 2024: What Investors Need to Know

HDFC Bank, India’s largest private sector lender, is gearing up to reward its shareholders with a dividend on the equity shares for the financial year ending March 31, 2024. The board of directors of HDFC Bank is scheduled to convene in April to propose the dividend payout, as per the latest regulatory filing by the Mumbai-based company. This move comes after the bank previously distributed a final dividend of Rs 19 per share to its shareholders in May 2023, as reported by the Bombay Stock Exchange (BSE). Now, HDFC Bank aims to continue its tradition of rewarding its investors with a dividend for the upcoming fiscal year.

HDFC Bank Dividend Announcement for 2024

With a staggering market valuation of Rs 10,87,152.91 crore, HDFC Bank has confirmed that its board of directors will meet to discuss the proposal for recommending a dividend on the equity shares for the financial year ending March 31, 2024. The meeting is scheduled to take place on Saturday, April 20, 2024. During this session, the board will also review the financial results for the year ended March 31, 2024, alongside making the dividend announcement.

Understanding HDFC Bank’s Dividend Yield

Over the past 12 months, HDFC Bank has maintained a dividend yield of 1.33% at the current market levels. This figure indicates the percentage of dividends distributed by the bank relative to its share price.

Insight into HDFC Bank’s Dividend History

For reference, here is a snapshot of HDFC Bank’s recent dividend history:

• Ex-Date: May 16, 2023 | Amount: Rs 19
• Ex-Date: May 12, 2023 | Amount: Rs 15.50
• Ex-Date: June 29, 2021 | Amount: Rs 6.50
• Ex-Date: August 1, 2019 | Amount: Rs 5
• Ex-Date: June 20, 2019 | Amount: Rs 15

These dividends underscore HDFC Bank’s commitment to its shareholders and reflect its strong financial performance over the years.

As investors eagerly await the outcome of the upcoming board meeting, the dividend announcement holds significant importance for those holding HDFC Bank shares. Stay tuned for further updates as HDFC Bank continues its journey of value creation for its stakeholders.