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HDFC Bank announces dividend of ₹19.50 per equity share for Q4 Results

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Q4 Results: HDFC Bank declares dividend ₹19.50 per equity share

HDFC Bank, India’s largest private lender, announced its Q4 results for the fiscal year 2024, reporting a 37% increase in net profit to ₹16,512 crore. The company recommended a dividend of ₹19.50 per equity share for the fiscal year ended March 31, 2024, marking a 1950% increase. The record date for determining eligibility for the dividend is set for May 10, 2024.

The Board of Directors of HDFC Bank made this recommendation in a meeting held recently. They stated that the dividend will be subject to shareholder approval at the Annual General Meeting (AGM) of the Bank. The dividend will be paid to shareholders whose names appear on the Bank’s Register of Members/ Register of Beneficial Owners on May 10, 2024.

The financial results for the fourth quarter of FY24 showed a consolidated revenue increase of 133.6% to ₹80,700 crore from ₹34,550 crore a year ago. The earnings per share (EPS) for the quarter stood at ₹23.2, and the book value per share as of March 31, 2024, was ₹600.8. The gross non-performing asset (NPA) for the quarter decreased to 1.24%, and the net NPA stood at 0.33%.

HDFC Bank also revealed that its shares ended 2.5% higher on the day of the announcement. The company’s performance in the fourth quarter showcases significant growth and stability, making it a standout player in the banking industry.

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