LIC Dividend 2024: State-run insurer recommends final dividend - Check amount, record date and other details

LIC Dividend 2024: Life Insurance Corporation of India (LIC), the state-run insurance giant, has informed exchanges that its board has recommended a final dividend of Rs 6 per equity share for the financial year ending March 31, 2024.

"Recommended a final dividend of Rs. 6/- per equity share for the financial year ended March 31, 2024, subject to declaration by Members of the Corporation in Annual General Meeting (AGM)," the company said in an exchange filing.

LIC Dividend 2024: Record Date

The company has fixed July 19, 2024, as the record date to ascertain the eligibility of shareholders for this corporate action. 

"The Board has fixed July 19, 2024, as the “Record Date” for the purpose of ascertaining the eligibility of members of the Corporation for the proposed final dividend," the filing reads.

LIC Dividend History

Earlier, the state-run insurer announced a dividend of Rs 4 in February 21, 2024. In 2023, it paid a dividend of Rs and in 2022 the company paid a dividend of Rs 1.5.

LIC Q4 Results

Meanwhile, Insurance behemoth LIC posted a marginal 2 per cent increase in net profit at Rs 13,763 crore in the fourth quarter ended March 2024.

The insurer had earned a profit of Rs 13,428 crore in the corresponding quarter a year earlier.

The total income of the insurer during the reporting quarter rose to Rs 2,50,923 crore from Rs 2,00,185 crore in the same period of the previous fiscal, LIC said in a regulatory filing.

LIC's income from first-year premium also improved to Rs 13,810 crore in the latest January-March quarter against Rs 12,811 crore in the same period of preceding fiscal.

The income from renewal premiums in the reporting period rose to Rs 77,368 crore compared to Rs 76,009 crore a year ago.

During the entire financial year ended March 2024, the insurer earned a profit of Rs 40,676 crore as compared to Rs 36,397 crore in the previous fiscal.

Meanwhile, the counter ended the session at Rs 1,035.80 on the BSE on Monday, up by 0.58 per cent from the previous close of Rs 1029.80.

With PTI Inputs