FM Nirmala Sitharaman lately inaugurated LIC’s new worldwide enterprise centre at GIFT City, Gujarat.
Over the previous three months, LIC has delivered a complete return of 54 per cent to buyers, with a yearly return of the identical share to its shareholders.
Life Insurance Corporation of India (LIC) handed a dividend cheque of Rs 2,441.44 crore to the Finance Minister of India, Nirmala Sitharaman on Friday. The cheque was introduced by the Chairperson of LIC, Siddharth Mohanty. LIC introduced this transaction by their official Twitter deal with, informing buyers and customers concerning the dividend payout. The Finance Minister acquired the dividend cheque within the presence of Financial Services Secretary, Vivek Joshi. As an investor in LIC, the federal government additionally acquired a dividend cheque of Rs 1831 crore final 12 months. Dividends signify a portion of an organization’s earnings distributed to its shareholders. For instance, if an organization pronounces a dividend of Rs 5 per share and a person holds 1000 shares, they’d obtain Rs 5000 as dividend revenue.
The Interim Dividend Cheque amounting to ₹.2,441.44 Crores has been handed over to the Hon’ble Finance Minister by our Chairperson Shri Siddharth Mohanty ji.@nsitharaman @DFS_India #LIC— LIC India Forever (@LICIndiaForever) March 1, 2024
According to a report from CNBC TV 18, the federal government’s stake in LIC, the nation’s largest insurance coverage firm, quantities to Rs 1.2 lakh crore. LIC shares have witnessed a 9 per cent enhance within the final month, offering over 70 per cent returns to buyers inside a 12 months. Market specialists attribute LIC’s robust efficiency to its December quarter outcomes for the fiscal 12 months 2023-24, which have been positively acquired out there. Omkar Kamtekar, Research Analyst at Bonanza Portfolio, famous, “LIC’s net profit saw an increase of 49 per cent in the third quarter results presented in February, leading to a positive market reaction.” On Friday, March 1, LIC’s share worth closed at Rs 1,034. Over the previous three months, LIC has delivered a complete return of 54 per cent to buyers, with a yearly return of the identical share to its shareholders.
Coinciding with the dividend presentation, Finance and Corporate Affairs Minister, Nirmala Sitharaman inaugurated LIC’s new worldwide enterprise centre at GIFT City, Gujarat, by way of digital mode. This strategic transfer exhibits LIC’s dedication to providing world-class insurance coverage and monetary providers on the Gujarat International Finance Tec-City (GIFT City).
