HDFC Bank Ltd has informed BSE that the Board of Directors of the Bank at its meeting held on April 18, 2011, inter alia, has recommended a dividend of Rs. 16.50 per equity share of Rs. 10/- each (i.e. 165%) out of the net profits for the year ended March 31, 2011.
HDFC Bank Board Approves Sub-division of Equity Shares:
HDFC Bank Ltd has informed BSE that the Board of Directors at its meeting held on April 18, 2011 considered and approved the sub-division of one equity share of the Bank having nominal value of Rs. 10/- each info five equity shares of nominal value of Rs. 2/- each and consequential alteration in the authorized share capital in the Capital Clause of the Memorandum of Association of the Bank.
The sub-division of shares will be subject to approval of the shareholders and other regulatory approvals if any.
Source: BSE Corporate Announcements