LIC Dividend 2024 Record Date: Life Insurance Corporation of India (LIC) will soon pay a whopping dividend of 60 payment on each stock to its investors. This is the highest-ever dividend announced by LIC since its Dalal Street listing in May 2022. LIC dividend record date, ex-date and payment date have already been fixed by the state-run company.
LIC is India’s biggest life insurance company. Besides, it is also the largest institutional investor.
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LIC Dividend 2024
According to an exchange filing by LIC in May, the board had recommended a dividend payout of 60 per cent on each stock of Rs 10 face value. Based on the calculation, the 60 per cent dividend translates into a payout of Rs 6. It means that LIC shareholders will get Rs 6 as dividend on each stock subject to their eligibility on the record date.
“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),” LIC had said in a regulatory filing.
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LIC Dividend 2024 Ex-Date
According to the BSE website, LIC shares will turn ex-date for 60 per cent dividend payout on July 19 (Friday).
LIC Dividend 2024 Record Date
LIC has already set the record date for determining the eligibility of shareholders participation in the next dividend. LIC dividend record date is July 19.
“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,” LIC had said in the filing.
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LIC Dividend 2024 Payment Date
LIC has said that the dividend payout is subject to the approval of shareholders at the upcoming AGM. LIC AGM will take place on August 22.
“The 3rd Annual General Meeting of the Members of the Corporation will be held on Thursday, August 22, 2024,” LIC said.
LIC dividend will likely be paid to the eligible shareholders within the prescribed limit of 30 days from the date of declaration.
LIC Dividend History
Before announcing dividend in the Q4 FY2024, LIC had paid a dividend of Rs 4 on each stock in February this year. In 2023 and 2022, LIC had rewarded its investors by paying a dividend of Rs 3 and Rs 1.50, respectively, on each stock.
LIC is a constituent of BSE 200 index. Its shares have delivered a positive return of 24 per cent in the last six months and 79 per cent in a year.
LIC shares closed nearly 5 per cent higher on July 16 at Rs 1,109.15. LIC has a market cap of Rs 7,01,537.12 crore.
