Focusing on Stock Today’s attention will be on the Life Insurance Corporation (LIC) of India, also known as LIC stock, whose shares will trade ex-dividend on Thursday. The insurance company’s board of directors recommended a dividend payment to shareholders for the fiscal year 2021–2022 of $1.50 per equity share, according to LIC of India’s most recent exchange report. The business board has established August 26, 2022, as the record date for determining the stockholders receiving dividend payments.
“The Board of Directors of the Corporation has recommended a dividend of 1.50 per equity share of the face value of Rs 10 each for the year ended March 31, 2022, which is subject to the approval of Shareholders in AGM,” LIC stated in an exchange filing following the board meeting on May 30, 2022.
The record date was later disclosed by LIC of India, which stated, “With reference to the foregoing, we thus advise that the Board of Directors of the Corporation at its meeting held today, among other things, has, discussed and approved a record date for dividend payment will be August 26 2022.”
Dividend Yield for LIC
On the NSE, LIC shares ended the day on Wednesday for $675.90 a share. Given that the firm declared a dividend of 1.50 rupees per equity share, LIC’s current dividend yield is roughly 0.22 per cent.