Rs 70, all-time high dividend: Record date for HDFC Bank-backed stock is... – Details

Shares of HDFC AMC will soon trade ex-dividend declaring highest interim dividend payout ever. The board of directors of HDFC AMC has approved an interim dividend of Rs 70 per equity share.

HDFC AMC dividend

In an exchange filing, the HDFC Backed asset management company said, “Since, the AGM of the Company will be held on the aforesaid date and the Company for the last two financial years has been paying dividend to its shareholders in the month of June, the Board has, accordingly, approved declaration of Interim Dividend of Rs. 70/- per equity share of Rs. 5/- each of the Company, for the financial year ended March 31, 2024, instead of the final dividend as proposed earlier.”

HDFC AMC dividend record date

The record date has been fixed on June 18, as per an exchange filing.

“Further, as already intimated, the Record Date for the purpose of ascertaining the entitlement of the shareholders to the interim dividend, as declared by the Board of Directors, shall be Tuesday, June 18, 2024, and dividend will be paid on or before June 30, 2024,” HDFC AMC said.

HDFC AMC dividend history

HDFC AMC has declared its highest dividend ever since it began distributing dividends to shareholders.

If we look at the data, there had been a sharp increase from 2019 when HDFC AMC paid a dividend of Rs 12 per equity share. In 2019, the AMC declared two dividends, each of Rs 12. In 2020, HDFC AMC declared a dividend of Rs 28, while in 2021, it was Rs 34. In 2022 and 2023, the company distributed dividends of Rs 42 and Rs 48, respectively.

HDFC AMC share price

On Friday, the stock closed 0.42% higher at Rs 4012.75 per share, opening at Rs 4069.95 per share on BSE.

HDFC AMC share price history

The stock has delivered consistent returns over the last six months, gaining 31.51%. It has delivered a return of 24.48% on a YTD basis and has gained over 5% in the last one week.