LIC Can Give Dividends To All Investors Who Bought Their Shares: Expected During Q4 Results Announcement

The Life Insurance Corporation of India (LIC) has now announced that the board will be discussing the possibilities of considering and approving the audited Annual Financial Results (standalone and consolidated).

These will be for the year or quarter that ended on March 31, 2022. Payment of dividends will also be discussed if any. 

LIC To Consider And Approve Audited Annual Financial Results

LIC has also issued an exchange filing for the same. 

In this exchange filing, it is noted that, “It is informed that a meeting of the Board of Directors of the Corporation is scheduled to be held on May 30th, 2022, to consider, inter alia, the following agenda items: To consider and approve the audited Annual Financial Results (standalone and consolidated) for the quarter/year ended on March 31, 2022 and payment of Dividend, if any.”

The share price of the insurance company hiked by more than a percent and went up to Rs. 829 per share on Tuesday afternoon. 

LIC Launched IPO At Rs 949/share

The highly awaited listing of the country’s largest insurer Life Insurance Corporation made its debut on the Indian exchanges on Tuesday, however slightly lower than its issue price of Rs 949/share.

The life insurer got listed at a discount of 8.5% at Rs 867.2 apiece on the BSE and at a discount of 8.1% on the NSE, compared to its issue price. Not just that, LIC’s tepid debut on Dalal Street pulled down its investors’ wealth by more than Rs 50,000, as the company’s market capitalization after the listing fell down by the same amount.

The nation’s largest insurer LIC made a weak start to the Indian exchanges on Tuesday, losing over Rs 50,000 of its market valuation at the time. Its m-cap dipped to Rs 5.54 lakh crore at the time of listing, compared to Rs 6 lakh crore at the issue price.

The state-owned insurer raised nearly Rs 21,000 crore through its initial public offering, which was open for subscription from May 4-9, 2022, and was valued at Rs 6.01 trillion.

As the session closed on Tuesday, LIC’s shares ended 8.04% lower at Rs 872.7 apiece, compared to its issue price, with a valuation of Rs 5.52 trillion. In the day, it hit a high of Rs 920/share and a low of Rs 860.1/share.