960 per cent dividend announced: Do you have this stock in your portfolio?

Dividend-paying companies are always valued in the stock market as they share profits with their shareholders.

On April 25, 2023, HDFC Asset Management Company announced its quarterly and annual results for the year ended March 31, 2023. The revenue of the company for Q4FY23, stood at Rs 540.95 crore which grew by 4.78 per cent YoY. The operating profit of the company stood at Rs 507.41, growing 10.76 per cent YoY while the PAT of the company grew by 9.5 per cent YoY staying at Rs 376.20 crore.

The net sales of the company for FY23 stood at Rs 2115.36 crore which grew by 14.19 per cent YoY. The operating profit of the company stood at Rs 1917.78 growing 5.76 per cent YoY while the PAT of the company grew by 5.08 per cent YoY staying at Rs 1393.13 crore.

Today, the board of the company recommended a dividend of Rs 48.00 per equity share with a face value of Rs 5 each, for the financial year ended March 31, 2023. The dividend is subject to the approval of shareholders at the ensuing Annual General Meeting. The dividend, if approved by the shareholders, will be dispatched commencing from the day after the ensuing Annual General Meeting.

Today, the stock of HDFC Asset Management Company opened at Rs 1784.95, with a high and low of Rs 1784.95 and Rs 1749.70, respectively. Currently, the stock is trading at Rs 1757.00, down by 0.50 per cent. The stock has a 52-week high of Rs 2314 and a 52-week low of Rs 1595.25.