Shares of HDFC Bank, the country's largest private-sector bank, fell nearly 1.35% to ₹1.653.30 apiece, while those of HDFC also dropped 2% to ₹2,728.40 apiece during Tuesday's intraday trading session as both stocks turned ex-dividend today.
The ex-dividend date is a crucial date that determines the eligibility of shareholders to receive the dividend payout, and typically, the share price adjusts to reflect the amount of the dividend on this date.
The board of directors of HDFC Bank announced a final dividend of ₹19 per equity share with a face value of ₹1, which represents a 1900% dividend. The private sector lender fixed May 16 as the record date for determining eligible shareholders.
Similarly, HDFC has announced an interim dividend of ₹44 per equity share with a face value of ₹2 for the financial year 2022–23, and the record date for determining eligible shareholders is May 16, 2023.
HDFC Bank paid a dividend of ₹15.50 per equity share for FY22, an increase from the ₹6.50 per share dividend paid in FY21. Since April 20, 2001, the bank has declared a total of 24 dividends, according to data from Trendlyne.
In FY22, HDFC paid a final dividend of ₹30 per share, while in FY21, it paid a dividend of ₹23 per share. According to Trendlyne data, HDFC has declared 28 dividends since June 2011.
For the March-ending quarter, the NBFC giant reported a 20% increase in its standalone net profit to ₹4,426 crore. Its core net interest income grew 16% to ₹5,321 crore on the back of an expansion in the net interest margin to 3.7% and a 24% growth in individual loans.
On the asset quality front, the company reported a significant improvement in non-performing loans (NPLs), with the gross NPL ratio improving to 1.18% as against 1.91% in the year-ago period.
On the other hand, HDFC Bank's net profit in Q4 FY23 stood at ₹12,047 crore, indicating a 19.8% growth over the same quarter last year. NII surged 23.7% YoY to Rs. 23,351 crore, compared to Rs. 18,872.7 crore in the corresponding period of the previous year.
The bank's core net interest margin was 4.1% on total assets and 4.3% on interest-earning assets. The bank also reported a drop in its gross non-performing ratio (GNPA) to 1.12% in the March quarter, compared to 1.17% in Q4 FY22 and 1.23% in Q3 FY23.
Its net NPAs stood at 0.27% in Q4 FY23, compared to 0.32% in the same quarter last year.
