Life Insurance Corporation of India Ltd. board on Tuesday recommended a final dividend of Rs 12 per share for the financial year ended March 31, 2025. The company will shell out Rs 7,590 crore in dividend payments under the plan.
The dividend proposal will be subject to shareholders' approval in the ensuing Annual General Meeting, to be held on Aug. 26.
The board has fixed July 25 as the record date to determine the eligibility of shareholders for the proposed final dividend.
The government, which owns 96% equity in LIC, will receive a dividend payment of Rs 7,324 crore.
The company paid a final dividend of Rs 6, an interim dividend of Rs 4 for FY24, and a final dividend of Rs 3 in FY23.
LIC's consolidated net profit rose 38% in the fourth quarter of the current financial year. The country's largest insurer posted a profit of Rs 19,038.7 crore in the quarter ended March, as compared to Rs 13,781.6 crore in the year-ago period.
Net premium income fell 3.2% to Rs 1.48 lakh crore versus Rs 1.53 lakh crore.
The persistency ratio for the 13th month came in at 68.62%, marginally higher as compared to 68.61% in the preceding quarter. However, the persistency ratio for the 61st month slipped to 58.54% as against 59.69% in the December 2024 quarter.
Before the quarterly results and dividend were declared, shares of LIC closed 0.12% higher at Rs 871.05 apiece on the BSE, compared to a 0.76% decline in the benchmark Sensex.
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