HDFC Financial institution declares 1550% dividend for shareholders

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HDFC Bank on Saturday declared a 1550 per cent or 15.50 per share dividend to its shareholders for the monetary 12 months 2021-22.

The board at its assembly has advisable a dividend of Rs 15.50 per fairness share of Re 1 (1550 per cent) out of the online income for the 12 months ended March 31, 2022, HDFC Financial institution stated in a regulatory submitting.

That is topic to the approval of the shareholders on the ensuing Annual Normal Assembly, it stated.

The document date for figuring out the eligibility of members entitled to obtain dividend on fairness shares is Might 13, 2022, it stated.

Final Saturday, the nation’s largest personal sector lender HDFC Financial institution reported a 23 per cent leap in standalone internet revenue to Rs 10,055.20 crore for the March quarter, led by progress in mortgage demand throughout classes and decrease provisioning as dangerous loans have been trimmed.

The financial institution’s internet revenue through the corresponding interval of the earlier fiscal stood at Rs 8,186.51 crore.

In a shock announcement earlier this month, the financial institution stated its dad or mum firm HDFC Ltd shall be merged into HDFC Financial institution in about 18 months and the mixed steadiness sheet will attain Rs 17.87 lakh crore.

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Lexie Ayers
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