HDFC Bank Limited (NYSE:HDB) Raises Dividend to $0.70 Per Share

HDFC Bank Limited (NYSE:HDB) declared 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 dividend yield of 1%. The ex-dividend date of this dividend is Wednesday, May 8th. This is a boost 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 Price Performance

Shares of HDFC Bank stock traded up $0.73 on Thursday, reaching $58.87. 1,754,418 shares of the stock were exchanged, compared to its average volume of 3,477,110. The firm’s 50 day moving average is $56.42 and its 200-day moving average is $58.55. HDFC Bank has a one year low of $52.16 and a one year high of $71.39. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.52 and a current ratio of 0.40. The firm has a market cap of $109.49 billion, a PE ratio of 18.12, a P/E/G ratio of 1.08 and a beta of 0.85.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of HDFC Bank from a “hold” rating to a “sell” rating in a report on Monday, April 22nd.

HDFC Bank Company Profile

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.