HDFC declares interim dividend of Rs 3.50 per share

Housing Development Finance Corporation, renowned as India’s biggest mortgage lender, declared an interim dividend of Rs 3.50 for the financial year ended March 31.

The purpose of distributing dividend is to share the dividends it received from its subsidiaries during the year.

The announcement was made by the NBFC upon close of market hours today.

HDFC has set March 18, 2019, as the record date for determining the eligibility of the shareholders to the interim dividend. The payment of the same to the eligible shareholders will commence from March 25, 2019.

For the quarter ended December 2018, the company reported a 60.11 per cent YoY drop in profit to Rs 2,113.80 crore. In comparison, HDFC had reported a profit of Rs. 5,300 crore in the previous year.

On Wednesday, the shares of HDFC opened at Rs. 1,861.00 and hit a high and low of Rs. 1,889.50 and Rs. 1,860.00, respectively. The stock closed at Rs. 1,885.20, up 1.32 per cent.