LIC IPO: Investors may get shares dividend, hints insurer
India Today
Shares of Life Insurance Corporation of India (LIC) made a lacklustre debut on stock exchanges, listing at over 8 per cent discount after a successful initial public offering (IPO).
Life Insurance Corporation of India (LIC) will hold a meeting of its board of directors to consider and approve payment of dividends, if any, the insurance behemoth said in a BSE-filing. The meeting is scheduled to be held on May 30.
The country's largest insurer made a lacklustre debut on stock exchanges, listing at over 8 per cent discount after a successful initial public offering (IPO) which fetched Rs 20,557 crore for the exchequer.
"Life Insurance Corporation of India has informed BSE that a meeting of the Board of Directors of the Corporation is scheduled to be held on May 30, 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," LIC said in the BSE-filing.
"Accordingly, the trading window for dealing in shares of the Corporation shall remain closed from May 17, 2022 till 48 hours after the Board Meeting for consideration and approval of financial results for the quarter/year ended on March 31, 2022," the country's largest insurer said in the statement.
The term dividend denotes the distribution of portion of earning or profits to eligible shareholders.
The dividend must be paid out as cash or in the form of additional stock.
LIC share price was at Rs 829.30, up by 0.55 per cent on BSE on Wednesday.
