HDFC Bank rises on plan to declare special dividend

HDFC Bank rose 0.56% to Rs 2,409.40 at 9:16 IST on BSE after the bank said its board will meet on Saturday, 20 July 2019, to consider declaration of a special interim dividend for the financial year 2019-2020.

The announcement was made after market hours yesterday, 15 July 2019.

Meanwhile, S&P BSE Sensex was down 30.99 points or 0.08% at 38,865.72.

On BSE, 5,386 shares were traded in HDFC Bank counter, compared to a 2-week average of 1.23 lakh shares. The share price hit an intraday high of Rs 2,418.40 and an intraday low of Rs 2,396. It hit a 52-week high of Rs 2,502.90 on 3 July 2019 and a 52-week low of Rs 1,884.40 on 31 October 2018.

HDFC Bank said it is planning to declare a special interim dividend to commemorate 25 years of the bank's operations.

HDFC Bank's net profit rose 22.6% to Rs 5,885.12 crore on a 22.1% surge in total income to Rs 31,204.46 crore in Q4 March 2019 over Q4 March 2018.

As of 31 March 2019, HDFC Bank had a nationwide distribution network of 5,103 branches and 13,160 ATMs in over 2,748 cities and towns.

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