HDFC Bank Limited (NYSE:HDB) Plans Annual Dividend of $0.70

HDFC Bank Limited (NYSE:HDB - Get Free Report) declared 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 dividend yield of 1%. The ex-dividend date is Wednesday, May 8th. This is a positive change from HDFC Bank's previous annual dividend of $0.59.

HDFC Bank has a payout ratio of 17.6% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Price Performance

NYSE HDB traded up $0.73 during trading hours on Thursday, hitting $58.87. 1,754,418 shares of the company's stock traded hands, compared to its average volume of 3,477,110. The firm's 50-day moving average is $56.51 and its 200-day moving average is $58.55. HDFC Bank has a 52-week low of $52.16 and a 52-week 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. The company has a market capitalization of $109.49 billion, a PE ratio of 18.06, a PEG ratio of 1.08 and a beta of 0.85.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of HDFC Bank from a "hold" rating to a "sell" rating in a research report 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.