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. 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 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 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 Monday. The company’s 50-day simple moving average is $56.60 and its 200 day simple moving average is $58.56. The firm has a market capitalization of $108.82 billion, a P/E ratio of 17.95, a PEG ratio of 1.10 and a beta of 0.85. 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 current ratio of 0.40 and a quick ratio of 0.52.

Analysts Set New Price Targets

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

About HDFC Bank

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.