HDFC Bank declares 1550% dividend for shareholders

HDFC Bank declared a 1,550%, or 15.50 per share dividend, to its shareholders for the financial year 2021-22.

The board, at its meeting, has recommended a dividend of Rs. 15.50 per equity share of Rs. 1 [1,550%] out of the net profits for the year ended March 31, 2022, HDFC Bank said in a regulatory filing.

This is subject to the approval of the shareholders at the ensuing Annual General Meeting, the lender said.

The country’s largest private sector lender HDFC Bank reported a 23% jump in standalone net profit to Rs. 10,055.20 crore for the March quarter, led by growth in loan demand across categories and lower provisioning as bad loans were trimmed.