By Malvika Gurung
Investing.com -- Shares of the private sector lender IndusInd Bank (NS: INBK ) began trading ex-dividend on Thursday for a dividend of 140% for the financial year ended March 31, 2023.
The Board of Directors of the private bank declared a dividend of Rs 14 per equity share of Rs 10 each for the financial year 2022-23, translating to a dividend of 140%.
IndusInd Bank’s Board has set the record date for determining the eligibility of shareholders entitled to receive the corporate benefit as June 2, 2023, and the said dividend will be paid to those eligible on Wednesday, June 14, 2023.
The dividend will be paid to those members whose names shall appear in the bank’s Register of Members as of the close of June 2.
This dividend declared by IndusInd Bank in FY23 is higher than that of Rs 8.5/share announced last year in FY22.
For the March quarter, the bank’s standalone net profit jumped almost 50% to Rs 2,040.51 crore on a YoY basis, and net interest income (NII) rose 17% YoY to Rs 4,669 crore.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.