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Business News/ Companies / News/  LIC Q4 earnings today, dividend to be key focus
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LIC Q4 earnings today, dividend to be key focus

LIC informed that its board will meet on May 30, 2022 to consider payment of dividend, if any

The Life Insurance Corp. of India (LIC) signage at the company's listing ceremony the Bombay Stock Exchange (BSE) in Mumbai, India (Bloomberg)Premium
The Life Insurance Corp. of India (LIC) signage at the company's listing ceremony the Bombay Stock Exchange (BSE) in Mumbai, India (Bloomberg)

State-run insurance behemoth Life Insurance Corporation of India (LIC)'s board will meet today to consider payment of dividend, if any, and approve the audited Annual Financial Results (standalone and consolidated) for the quarter/year ended on March 31, 2022.

LIC share price are down more than 15% from its IPO issue price. The shares of the insurance behemoth made their stock market debut earlier this month on May 17, 2022.

Analysts believe that the life insurance company will try to announce a good dividend for shareholders in view of the lacklustre debut of the insurer in the stock market.

“LIC did not pay any dividends in the last financial year, so there are high chances that the company might declare a good dividend this year, thus making it a good dividend play," said Santosh Meena, Head of Research, Swastika Investmart Ltd.

LIC IPO, India's largest till date, had closed with nearly 3 times subscription, predominantly lapped up by retail and institutional buyers, but foreign investor participation remained muted. The price range for LIC's mega issue was set between 902 and 949 per share. The government sold over 22.13 crore shares or a 3.5% stake in LIC through the initial share sale.

"We believe that LIC is a decent investment opportunity in the short to medium-term considering its strong market presence, improvement in future profitability due to the changes in surplus distribution norms and strong sector growth outlook. LIC can perform well when we have a bounce in the market and positive performance in the insurance sector" said Vinod Nair, Head of Research at Geojit Financial Services.

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Published: 30 May 2022, 07:46 AM IST
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