HDFC Bank announces its highest dividend of Rs 16. 50 per equity share: Check details

HDFC Bank has announced a dividend of Rs 15.50 or 1,550 per cent per equity share with a face value of Re 1 each for FY22, the highest in rupee terms in the last 11 years.

The private sector lender had announced a dividend of Rs 16.50 per equity share in June 2011, its second highest ever dividend announced since April 2001. HDFC Bank has announced 22 dividends since April 20, 2001, out of which, it had declared 21 final dividends, and the rest one was a special dividend.

The bank, in an exchange filing on Saturday, informed about the recommendation of its Board of Directors at its AGM (Annual General Meeting) held on Saturday, April 23, 2022.

The record date for determining the eligibility of members entitled to receive dividend on equity shares is Friday, May 13, 2022, according to the regulatory filing.

Informing about the proposal of dividend payment in its exchange communication, HDFC Bank said, "Pursuant to Regulations 30, 42 and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended from time to time ("the Regulations"), we are pleased to inform that the Board of Directors, at its meeting held today, has recommended a dividend of Rs. 15.50 per equity share of Re. 1/- each fully paid up (i.e.1550 %) out of the net profits for the year ended March 31, 2022, subject to the approval of the shareholders at the ensuing Annual General Meeting ("AGM") of the Bank."

"The record date for determining the eligibility of members entitled to receive dividend on equity shares is Friday, May 13, 2022. Dividend, if approved by the shareholders of the Bank, shall be paid after the AGM to those shareholders, 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 Friday, May 13, 2022," the bank stated.