HDFC AMC Shares Decline 4% as Stock Goes Ex-Dividend

9 Jun 2023 , 11:57 AM

HDFC Asset Management Company (AMC) share slipped over 4 % in early trade due to going ex-dividend on June 9. The company approved a dividend payout of Rs.48 during the March quarter earnings and set the record date as June 9.

Key Highlights:

• Investors who held the stock before June 9 are eligible for the dividend.
• Exiting the stock on the record date ensured that investors’ names appeared on the dividend payouts list, leading to a fall in the stock.
• The dividend will be paid on July 26.
• As per data, this is the only dividend paid by the company in FY23 and is higher than the Rs.42 paid in the previous fiscal.
• At the time of writing, shares of HDFC AMC were trading 2.81% down at Rs 1,937.50 on the National Stock Exchange.

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