HDFC Bank-backed DIVIDEND STOCK: Rs 70 per share announced - Details

Written by : Anish Mondal Updated Apr 21, 2024 | 05:56 PM IST HDFC Bank-backed DIVIDEND STOCK: Rs 70 per share announced - Details (Image: iStock/ET NOW NEWS)

HDFC AMC Dividend Stock 2024: Stocks of HDFC Asset Management Company ( HDFC AMC ) Limited will be in focus next week after the company has announced a whopping 1400 per cent dividend payment on each stock for the financial year 2023-24. A dividend is a company's reward to its investors for their investment in the business. It is paid in cash from earnings.

HDFC AMC Dividend 2024 Amount

A dividend is always calculated and paid on the face value of each stock. Accordingly, a 1400 per cent dividend translates into Rs 70 per equity share with a face value of Rs 2 each for the financial year 2023-24.

“The Board of Directors in the said meeting has recommended a dividend of Rs. 70/- per equity share of Rs. 5/- each of the Company, for the financial year ended March 31, 2024,” the company said in an NSE Filing.

HDFC AMC Dividend 2024 Ex-Date and Record Date

HDFC AMC Limited hasn’t fixed the ex-date and record date as yet. In a statement, the company said, “…subject to the approval of shareholders at the ensuing Annual General Meeting. The dividend if approved by the shareholders, will be dispatched/remitted commencing from the day after the ensuing Annual General Meeting.”

HDFC AMC Share Price

Stock of HDFC AMC Limited fell by more than 1 per cent on Friday. The stock closed at Rs 3708 apiece, down by Rs 64.40 points or 1.71 per cent on NSE. The scrip registered a high and low of Rs 3768.05 and Rs 3645.05, respectively. More than 4.87 lakh equity shares changed hands during the entire session on April 19.

HDFC AMC Share Price History

HDFC AMC Limited is a constituent of the S&P BSE 200. According to BSE analytics (as of April 20, 2024), shares of HDFC Limited rose by 0.81 per cent and 0.94 per cent in the last 1 week and 2 weeks, respectively. In the past 1 month and 3 months, the shares were up by 1.14 per cent and 6.51 per cent, respectively. On a YTD basis, the company shares up by 15 per cent. In the last 1 year, 2 years, 3 years and 5 years, the shares of this asset management company climbed by 109.68 per cent, 75.41 per cent, 31.37 per cent and 134.13 per cent, respectively.

HDFC AMC Q4FY24 Results

HDFC AMC Limited has reported a net profit rise to Rs 541.1 crore in the last three months of fiscal year 2023-24. The company’s revenue also climbed 29 per cent to Rs 695.5 crore in the last quarter of the FY24.

(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)

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