HDFC Bank Limited (NYSE:HDB) Declares Annual Dividend of $0.70

HDFC Bank Limited (NYSE:HDB) declared an annual dividend on Thursday, May 2nd, Wall Street Journal reports. Investors 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 of this dividend is Wednesday, May 8th. This is an increase from HDFC Bank’s previous annual dividend of $0.59.

HDFC Bank has a payout ratio of 17.6% meaning 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 Stock Down 0.9 %

NYSE:HDB traded down $0.54 during trading hours on Friday, reaching $58.33. 357,614 shares of the stock were exchanged, compared to its average volume of 3,440,788. HDFC Bank has a twelve month low of $52.16 and a twelve month high of $71.39. The firm has a 50 day moving average of $56.51 and a 200 day moving average of $58.55. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.40 and a quick ratio of 0.52. The stock has a market cap of $108.49 billion, a PE ratio of 18.06, a PEG ratio of 1.09 and a beta of 0.85.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered 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.