The board of directors of Housing and Urban Development Corporation (HUDCO) is scheduled to be held on March 10 to consider the second interim dividend announcement for the 2024-25 fiscal year.
According to the company’s March 3 press release, the record date for determining shareholder eligibility for the second temporary dividend is scheduled to be approved by the board of directors on Friday, March 14, 2025. Record dates are the critical value for shareholders to be eligible for corporate actions, including dividends and stock splits. Given India’s T+1 settlement cycle, investors must purchase shares at least one day before the previous period in order to be recognized as shareholders on the record date.
Hudco announced dividend totals over the past 12 months ₹4.15 per share. Earlier this year, the company announced temporary dividends ₹2.05 per share in FY25, January 30 is the date of eligibility for record.
Financial performance
HUDCO reported net profit growth of 42% year-on-year in terms of financial performance ₹735 million in Q3FY25, in comparison ₹5.1923 million in the corresponding quarter of the previous year. Revenue also saw strong growth of 37% to reach ₹2.76 billion, from ₹20.13 million in Q3FY24.
Market reaction
Hudco shares fell 1% on Monday to hit a day’s low ₹180.30. The stock’s peak has fallen by 49% ₹353.95, recorded in July 2024. However, its 52-week low recovered 18% ₹152.65, moved in March 2024.
On a one-year basis, PSU stock fell 10%. Still, it has risen more than 10% in March so far, rebounding after three consecutive months of losses. The stock fell 28% in February, 2% in January and 1.6% in December.
Other strategic developments
Hudco revised its loan plan for fiscal 25, from ₹40,000 million ₹550 million, the reason is that the “quantum business leap” is the main reason for this decision.
Additionally, the company recently announced its plans to withdraw from Ind Bank Housing Limited (IBHL). However, the specific reason is not mentioned in the exchange file regarding the exit policy.
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