HDFC Bank board announces dividend of Rs 15.5 per share

HDFC Bank on Saturday announced that the bank's board has recommended a dividend of Rs 15.5 per equity share out of the net profits for the year ended March 31, 2022.

The record date for determining the eligibility of members entitled to receive dividend on equity shares is Friday, 13 May 2022. The bank last declared a dividend of Rs 6.50 per share on 18 June 2021.

The dividend is subject to the approval of the shareholders at the ensuing Annual General Meeting of the bank.

HDFC Bank is private sector lender. As of 31 March 2022, its distribution network was at 6,342 branches and 18,130 ATMs / Cash Deposit & Withdrawal Machines (CDMs) across 3,188 cities / towns as against 5,608 branches and 16,087 ATMs I CDMs across 2,902 cities/ towns as of 31 March 2021.

The private lender's net profit rose 22.83% to Rs 10,055.18 crore on 8.07% increase in total income to Rs 41,085.78 crore in Q4 FY22 over Q4 FY21.

Shares of HDFC Bank declined 1.37% to end at Rs 1355.45 on BSE, yesterday, 22 April 2022. The counter has declined 9.3% in last one month as compared to a 0.83% fall in Nifty 50 index.

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