Public sector undertaking Housing & Urban Development Corporation shares (HUDCO) shares today declined marginally by 0.87% on Bombay Stock Exchange (BSE) to settle at Rs 227.35 per share. Board of Directors of HUDCO today recommended an interim dividend of Rs 2.05 per equity share (i.e. 20.50%) on the face value of Rs 10 each for the FY 2024-25. The PSU set January 30, 2025 as the record date. FII/FPI reduced holdings from 2.32% to 2.08% for Dec 2024 quarter and count of FII/FPI investors fell from 145 to 143 for December 2024 quarter.
On the other hand, Mutual Funds raised holdings from 0.77% to 1.83% in December 2024 quarter. Meanwhile, stake of Life Insurance Corporation of India (LIC) in HUDCO stood at 7.44% for the December 2024 quarter. President of India’s stake in the firm stood at 75% for the quarter ended December 2024. Check relevant details below:
HUDCO Recommends Dividend
As per the regulatory filing of the firm dated January 22, 2025, “Declaration of Interim Dividend of Rs. 2.05/— per equity share, ie. @ 20.50% (subject to deduction of TDS) on the face value of Rs 10 each, for the Financial Year 2024- 25 and fixed Thursday, 30th January, 2025 as Record date for determining the eligibility of shareholders for payment of Interim Dividend.”
HUDCO Dividend History
The PSU announced 15 dividends since September 14, 2017. In last 1-year, Housing and Urban Development Corporation recommended an equity dividend amounting to Rs 4.15 per share. If the current share price of Rs 227.35 is taken into consideration, HUDCO offers a dividend yield of 1.82%, according to Trendlyne.
How To Be Eligible For HUDCO Dividend?
Record date is significant when it comes to deciding the shareholders’ eligibility for dividend. Shareholders whose name reflects in firm’s shareholders’ record on the record date for dividend will be eligible for dividend. Record date is the date when the firm finalises list of shareholders eligible for the company’s dividend distribution. In the case of Housing & Urban Development Corporation, the record date has been fixed as January 30, 2025. Therefore, shareholders must buy HUDCO shares before the record date to receive dividend.
HUDCO Financials
The company today announced an impressive 42% year-on-year (YoY) surge in net profit to Rs 735 crore for Q3FY25 as against Rs 519.23 crore declared in the corresponding quarter of last year. Th leading Navratna PSU announced a robust rally in revenue at Rs 2760 crore for Q3FY25, indicating a surge of 37% as compared to Rs 2013 crore reported in the similar quarter of last year. It also enhanced its borrowing plan for the ongoing financial year to Rs 55,000 crore from Rs 40,000 and highlighted “quantum jump in business” as the reason.
HUDCO Shares Performance
The 52-week high price of Housing & Urban Development Corporation shares on BSE stood at Rs 353.95 per share (as on 12/07/2024) and 52-week low price is Rs 145.45 per share (as on 24/01/2024), respectively. The company’s market cap stood at Rs 45,513.20 crore. It offers a return of equity (ROE) at 15.68%. HUDCO shares soared 5.89% in last 1-week, slipped over 6.11% in last 1-month, and fell 29.75% in last 6-months. In last 1-year, HUDCO stock surged 35.65%, soared 353.79% in last 2-years, and gained 459.29% in last 3-years.
HUDCO Inks MoU With VPPL
According to the exchange filing, “Housing and Urban Development Corporation Limited (HUDCO), has signed a Memorandum of Understanding (MoU) on 21st January, 2025 with Vadhvan Port Project Limited (VPPL), a joint venture of JNPA (Government of India) and Maharashtra Maritime Board (MMB), an entity of Government of Maharashtra. Through this MoU, HUDCO shall explore and provide funds upto Rs.25000 Crore for development of new ports/PPP projects of VPPL.
The MoU was signed by Shri M Nagaraj, Director (Corporate Planning), HUDCO and Shri Unmesh Sharad Wagh, I.R.S., Chairman & Managing Director, VPPL, added the exchange filing.
About HUDCO
Housing and Urban Development Corporation Ltd (HUDCO), the premier techno-financing public sector enterprise, in the field of housing and infrastructure development in our country, was incorporated on 25th April 1970, as a fully owned enterprise of the Government of India under the Companies Act 1956. On 19th May, 2017, Government of India has disinvested shareholding in HUDCO to the extent of 10.193% by listing HUDCO equity on NSE and BSE, and further disinvested another 8% of shareholding during July, 2021 through offer for sale. Its key objective is to finance Housing and Urban development projects in the country, according to its official website.
Disclaimer
The story highlights dividend, Q3 results and should not be considered as investment advice by the Moneydaily.in or the Author. Moneydaily.in and the author will not be held responsible for any losses caused as a result of decisions based on the above information. MoneyDaily.in advises readers to do their own research or consult a SEBI registered investment advisor before making any investment decisions.
Recommended: Bonus, Dividend, Stock Split On January 27, 2025: Penny Stock Hits Upper Circuit
Leave a Reply