Dividend will be given to the shareholders by HDFC, the country’s largest private bank. This was announced by the board members in the meeting held on Friday.
Shareholders will get dividend
HDFC Bank investors will be given dividend at the rate of Rs 6.50 per equity share for the financial year 2021. This was announced by the board. The Board of Directors said that this dividend will be given to the investors out of the net profit for the year ended.
HDFC Bank said that this decision will be finalized in the upcoming Annual General Meeting (AGM), its benefit will be given to the shareholders. The meeting has been called on 17th July. This meeting will be conducted through video conferencing and other audio visual means. If all goes well, the dividend will be paid in digital form by August 2, 2021.
These decisions were also stamped
Apart from announcing the dividend, the board also sought appointment of MM Nisim & Co LLP, a chartered accountant firm, as its first preferred firm to act as joint statutory auditor for three years till the financial year 2023-24. This time the approval from RBI is yet to be received. Presently MSKA & Associates is its statutory auditor. As per RBI guidelines, at the end of last year, banks with assets of Rs 15,000 crore and above were required to appoint at least two joint statutory auditors.
Know how to get dividend
When any company or institution benefits financially, it shares some part of it with its shareholders. In such a situation, the investors who have bought the shares of the company get some percentage of the dividend, this is called dividend. It is not mandatory for the company to pay dividend to the shareholders. If a company is giving dividend, then there is no guarantee that it will also give it further. Whether to pay dividend or not depends on the board of directors of the company.
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