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HUDCO - Rs. 2.35 dividend recommended - Dividend Yield @ 7.01%

Posted On: 2020-07-15 22:43:26


Housing and Urban Development Corporation Limited (HUDCO) is a unique institution with its motto of "Profitability with Social Justice". A Public Sector Company, under the Ministry of Housing and Urban Affairs (MoHUA), HUDCO has been a key partner with the Government in building assets for the Nation. In its operations, HUDCO lays a considerable emphasis on the housing need of the "deprived" that is Economically Weaker Sections (EWS) and Low-Income Groups (LIG).

The Board of Directors of the Company at its meeting held on June 26, 2020, has recommended the final dividend of Rs. 2.35/- per equity share for the financial year 2019-20, subject to the approval of the shareholders in the Annual General Meeting. This is in addition to the Interim Dividend of Rs. 0.75/- per equity share already declared and paid in the month of March, 2020, making the total dividend to Rs. 3.10/- per equity shares being 31% (Face Value: Rs. 10 per share) for the financial year 2019-20.

The current stock price is Rs. 33.50 and the final dividend yield works out to 7.01% at current market price. Total dividend yield including the interim dividend works out to 9.25% at current market price. In BSE, the company's stock price hit a 52 week high of Rs. 45.70 (November 14, 2019) and low of Rs. 18.05 (March 24, 2020).

The company has reported consolidated net profit of Rs. 440.91 crore for the quarter ended March 31, 2020 (Q4FY20) as against net profit of Rs. 236.29 crore for the quarter ended March 31, 2019 (Q4FY19) and net profit of Rs. 205.89 crore during the quarter ended December 31, 2019 (Q3FY20). The EPS stood at Rs. 2.20 for Q4FY20 as compared to Rs. 1.03 for Q3FY20 and Rs. 1.18 for Q4FY19.

The company posted consolidated net profit of Rs. 1708.20 crores for the year ended March 31, 2020 as compared to Rs. 1179.85 crores for the year ended March 31, 2019. The EPS stood at Rs. 8.53 for FY2020 as against Rs. 5.89 for FY2019. The Book Value per share increased to Rs. 62.85 in FY2020 from Rs. 54.73 in FY2019.

The Gross NPA was at 3.82% as of March 31, 2020 as compared to 4.48% as of March 31, 2019. The Net NPA was at 0.19% as of March 31, 2020 as against 0.50% as of March 31, 2019.

Shares of Housing and Urban Development Corporation Ltd was last trading in BSE at Rs.33.85 as compared to the previous close of Rs. 35. The total number of shares traded during the day was 322014 in over 1692 trades.

The stock hit an intraday high of Rs. 35.65 and intraday low of 33.5. The net turnover during the day was Rs. 11106949.


Source: Equity Bulls

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