HDFC Bank Limited (NYSE:HDB – Get Free Report) announced an annual dividend on Thursday, May 2nd, Wall Street Journal reports. Shareholders of record on Thursday, May 9th will be paid a dividend of 0.7008 per share by the bank on Wednesday, May 8th. This represents a yield of 1%. The ex-dividend date of this dividend is Wednesday, May 8th. This is an increase from HDFC Bank’s previous annual dividend of $0.59.
HDFC Bank has a dividend payout ratio of 17.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect HDFC Bank to earn $3.62 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 18.8%.
HDFC Bank Trading Down 0.6 %
Shares of HDB stock opened at $58.51 on Friday. The company has a market cap of $108.82 billion, a P/E ratio of 17.95, a PEG ratio of 1.10 and a beta of 0.85. The stock has a 50 day simple moving average of $56.51 and a two-hundred day simple moving average of $58.55. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.52 and a current ratio of 0.40. HDFC Bank has a fifty-two week low of $52.16 and a fifty-two week high of $71.39.
Wall Street Analysts Forecast Growth
View Our Latest Research Report on HDB
About HDFC Bank
HDFC Bank Limited provides banking and financial services to individuals and businesses in India, Bahrain, Hong Kong, and Dubai. The company operates in three segments: Wholesale Banking, Retail Banking, and Treasury Services. It accepts savings, salary, current, rural, public provident fund, pension, and demat accounts; fixed and recurring deposits; and safe deposit lockers, as well as offshore accounts and deposits, and overdrafts against fixed deposits.
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