HDFC AMC announces dividend of Rs 70 per share for FY 24
HDFC Asset Management Company (HDFC AMC) on Friday announced an interim dividend of Rs 70 per share for its eligible shareholders in its meeting held on Friday.
“Company for the last two financial years has been paying dividend to its shareholders in the month of June, the Board has, accordingly, approved a declaration of Interim Dividend of Rs. 70/- per equity share of Rs. 5/- each of the Company, for the financial year ended March 31, 2024, instead of the final dividend as proposed earlier,” said company in a filing to the stock exchanges.
The board has declared June 18 as the record date for ascertaining the entitlement of the shareholders to the interim dividend while the dividend will be paid before June 30.
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The company has also updated that Navneet Munot has been re-appointed as the MD & CEO of HDFC AMC while Sylvia Furtado has resigned from the post of Company Secretary and Compliance Officer and will be replaced by Sonali Chandak.
Shares of HDFC AMC have surged close to 90% in the last one year while in the last 6 months, the stock has gained 25.75% on charts. In the last week, the shares of the company have dipped by 3%.
10 out of 21 analysts recommend buying the shares of HDFC AMC as per the Trendlyne data, while 8 suggest holding the same. 3 analysts are in the view of selling the stock.
Technically, the chart is placed above its longer-term exponential moving averages as it is still below its 26 DEMA, according to Trendlyne.
