HDFC AMC Press Release - Dividend or No Dividend?

HDFC AMC’s press release to the results for quarter ended 30th June 2021, announced on Friday 16th July 2021, had a sub-heading – ‘Dividend per share increases to Rs 34, as against Rs 28 per share.’ when no dividend has been announced by the company in its Board Meeting held on 16th July.

This is actually a copy paste from the previous quarter press release, when Rs. 34 dividend was declared for the quarter and year ended 31st March 2021, which had exactly same sub-heading then. Old announcement being highlighted at the beginning of a press release is a sheer oversight.

But, such negligence or callious approach is not expected of India’s 2nd largest asset management company, with mcap of Rs. 65,000 cr and definitely not from a HDFC Group company.

Indeed, the copy-paste or CtrlC-CtrlV culture is all-prevalent!

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