HDFC Bank Limited (HDB) To Go Ex-Dividend on May 8th

HDFC Bank Limited (NYSE:HDB) announced an annual dividend on Thursday, May 2nd, Wall Street Journal reports. Stockholders of record on Thursday, May 9th will be given 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 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% meaning its dividend is sufficiently covered by earnings. Equities 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 %

NYSE HDB opened at $58.51 on Friday. The company has a market cap of $108.82 billion, a PE ratio of 17.95, a PEG ratio of 1.10 and a beta of 0.85. The company has a current ratio of 0.40, a quick ratio of 0.52 and a debt-to-equity ratio of 1.78. HDFC Bank has a 12 month low of $52.16 and a 12 month high of $71.39. The stock has a 50 day moving average of $56.51 and a 200-day moving average of $58.55.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded 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.