Life Insurance Corporation of India Dividend 2024 Record Date, Share Price, History

News: The Life Insurance Corporation of India (LIC), a prominent player in the insurance sector, has recently announced its dividend for the year 2024. In this article, we’ll delve into the details of LIC’s dividend history, the upcoming record date, and the current share price.

Dividend History

LIC has a track record of consistently rewarding its shareholders through dividends. Let’s take a look at the recent dividend declarations:

1. February 21, 2024: LIC declared an interim dividend of ₹4.00 per share. This dividend is distributed to shareholders who hold LIC’s equity shares on or before this record date.

2. July 21, 2023: LIC announced a final dividend of ₹3.00 per share. Shareholders who were eligible on this date received this dividend.

3. August 25, 2022: LIC declared a final dividend of ₹1.50 per share. This dividend was distributed to qualifying shareholders.

In the past 12 months, LIC has consistently rewarded its investors, with a cumulative dividend amount of ₹3.00 per share.

Current Share Price

As of now, the current share price of LIC stands at ₹1080.85. Considering this share price, the dividend yield (which indicates the return on investment through dividends) is approximately 0.28%.

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About Life Insurance Corporation Of India :

Life Insurance Corporation of India (LIC), popularly known as LIC, is an Indian state-owned insurance group and investment company. Headquartered in Mumbai, LIC holds a significant position in the insurance sector. Let’s explore more about LIC:

History and Overview:

• LIC was established in 1956 after the nationalization of life insurance companies in India. Since then, it has been a trusted name in providing life insurance solutions to millions of Indians.

• As of March 2023, LIC manages total assets worth an impressive ₹49.24 trillion (US$620 billion), making it India’s largest insurance company and the largest institutional investor.

Functions and Objectives:

• LIC’s primary objective is to provide life insurance coverage to individuals and families across the country.

• It offers a wide range of insurance products, including term insurance, endowment plans, money-back policies, and pension plans.

• LIC also plays a crucial role in promoting financial inclusion by reaching out to rural and underserved areas.

Ownership and Administration:

• LIC is owned by the Government of India and is administratively governed by the Ministry of Finance.

• Its commitment to policyholders and financial stability has made it a reliable choice for securing the future of millions of Indians.

Tax Benefits and Multiple Cover Options:

• When you buy life insurance plans from LIC, you not only protect your loved ones but also avail tax benefits under relevant sections of the Income Tax Act.

• LIC offers a variety of cover options to suit different needs and preferences.

LIC remains a market leader in the insurance industry, and its commitment to rewarding shareholders through dividends underscores its financial stability and investor-friendly approach. As investors, it’s essential to keep an eye on LIC’s announcements and record dates to make informed decisions.

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