ICICI Lombard announces its Q4 results, declares final dividend of 55%

ICICI Lombard Final Dividend: ICICI Lombard on Tuesday announced its annual results and also declared a final dividend of Rs 5.50 per equity share of the face value Rs 10 each.
"The Board at the above Meeting also recommended final dividend of Rs 5.50/- per equity share i.e. at the rate of 55.0% of face value of Rs 10/- each for the financial year ended March 31, 2023, subject to approval of the Members of the Company at the ensuing Annual General Meeting," the company said in its filing Tuesday. 

Elaborating about the annual results, the company said, "We wish to inform you that the Board of Directors of the Company at their Meeting held today i.e. Tuesday, April 18, 2023 have approved the audited financial statements of the Company for the financial year ended March 31, 2023 and audited financial results of the Company for the quarter and financial year ended March 31, 2023.  

The company had paid an interim dividend on October 27, 2022 of Rs 4.5.

This is the third year in  row when the company has paid two dividends.

The company alsp paid an interim dividend and a final dividend in 2022 and 2021 also.

In FY2022, ICICI Lombard paid an interim dividend of Rs 4, while paid a final dividend of Rs 5 on July 28, 2022.

Key features of ICICI Lombard Q4 Results

The company announced that it has clocked a profit of Rs 437 crore against the forecast of Rs 340.4 crore.

Its profit in the corresponding period last year was Rs 312.5 crore.

ICICI Lombard's net income has jumped from Rs 3,317.8 crore to Rs 3,730 crore in the fourth quarter.

While its combined ratio increased from 103.2 per cent to 104.2 (yoy), its solvency ratio jumped from 245 per cent to 251 per cent (qoq).

ICICI Lombard Dividend History