IndusInd Bank Q4 dividend: Lender announces Rs 16.50 per share alongwith Q4 results

IndusInd Bank Q4 dividend: The board of directors of IndusInd Bank on Thursday, April 25, recommended a final dividend of Rs 16.50 per equity share for FY24, according to a stock market disclosure.

"We are pleased to inform that the Board of Directors, at its meeting held today, has recommended a dividend of Rs. 16.50 per equity share of Rs.10/- each fully paid up (i.e. 165%) out of the net profits for the year ended March 31, 2024, subject to the approval of the shareholders at the ensuing Annual General Meeting (“AGM”) of the Bank," the bank said in a BSE filing.

"The Board Meeting commenced at 1.20 PM. Please note that the aforesaid proposal was approved by the Board at 3.45 p.m. at its meeting held today, and thereafter the Board meeting continued for consideration of other agenda items," it added.

Simultaneously, lender IndusInd Bank has also posted its financial results for the fourth quarter ended on March 31, 2024. The bank posted a 15 per cent rise in consolidated net profit at Rs 2,349 crore for the fourth quarter that ended March 2024, helped by an increase in interest income. It had logged a profit of Rs 2,043 crore in the year-ago period. Total income increased to Rs 14,707 crore during the quarter under review, as against Rs 12,174 crore in the same period last year, IndusInd Bank said in a regulatory filing.

Meanwhile, shares of IndusInd Bank closed at Rs 1,495.95 each, up 1.44 per cent on BSE today.