Business News/ Markets / Stock Markets/  IndusInd Bank fixes record date for 14 per share dividend, scrip trading near 52-week-high

IndusInd Bank opened at 1245.25 during Wednesday's session and went to hit an intraday high of 1275.00 apiece which is close to its 52-week-high level. The bullish upside on the stock appear after the Board of Directors of the bank sets record date for dividend. 

“The Board of Directors of the Bank have inter-alia recommended final dividend of Rs. 14/- per equity share for FY 2022-23, subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM). Pursuant to Regulation 42 of the SEBI LODR Regulations, the Bank has fixed Friday, June, 2, 2023 as the 'Record Date' for payment of final dividend. Post approval of Dividend by shareholders in the AGM, dividend entitlement will be as follows: a. In respect of shares held in physical form, all those members whose names will appear in the Company's Register of Members as on close of Friday, June 2, 2023. b. In respect of shares held in dematerialised form, all those beneficial owners as per details furnished by the National Securities Depository Limited and the Central Depository Services (India) Limited as on close of Friday, June 2, 2023," said IndusInd Bank in a stock exchange filing.

For the quarter that ended in March, the bank reported a standalone net profit of 2,040.51 crore, an increase of about 50% over the 1,361.37 crore from the prior year quarter. Net interest income for the lender was 4,669.46 crore, an increase of 17% over the prior year. The bank's total income rose 16% year on year to 6,823 crore in Q4 FY23, while its other income rose 13% to 2,514 crore. The lender's net interest income (NII) for the fourth quarter of FY23 climbed 17% to 4,669 crore over the same quarter in FY22. The gross NPA ratio dropped to 1.98% between January and March from 2.06% sequentially and 2.27% in Q4FY22.

Net NPAs, on the other hand, reached 0.59% compared to 0.62% in the December quarter and 0.64% in the March 2022 quarter. 

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Updated: 24 May 2023, 02:38 PM IST
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