Shareholders of HDFC Bank will be given dividend at the rate of Rs 6.50 per equity share for the financial year 2020-21.
New Delhi. Private sector HDFC Bank said on Friday that its board of directors has announced a dividend of Rs 6.50 per share for the financial year 2020-21. HDFC Bank told the stock exchange that it has recommended a dividend of Rs 6.50 per equity share (650 per cent at face value of Rs 1) out of the net profit for the year ended March 31, 2021.
The approval of the shareholders will be taken on this decision in the upcoming Annual General Meeting (AGM) of the bank. AGM meeting has been called on 17th July. This meeting will be conducted through video conferencing and other audio visual means. The bank said that if this recommendation is approved by the AGM, then the payment of dividend in digital form will be available by August 2, 2021.
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In addition, the board approved the re-appointment of Umesh Chandra Sarangi as an independent director from March 1, 2021 to February 29, 2024.Profit reaches Rs 8,186 crore in fourth quarter
It is noteworthy that recently ADFC Bank announced the results of the fourth quarter ended 31 March 2021. The bank’s net profit for the quarter has increased by 18.1 percent year-on-year to Rs 8,186.51 crore. The bank had a profit of Rs 6,927.69 crore in the March quarter of last year. In the March quarter, the interest income of the bank increased by 12.6 percent year-on-year to Rs 17,120.2 crore. At the same time, in the March quarter of last year, the interest income of the company was Rs 15,204.1 crore.