business

LIC pays ₹3,662.17 crore dividend to Centre

On Aug 30, 2024 By The Hindu Bureau

The Life Insurance Corporation of India (LIC) on Thursday paid a dividend of ₹3,662.17 crore to the government.

CEO and MD Siddhartha Mohanty presented the cheque for ₹3,662.17 crore to Union Minister of Finance and Corporate Affairs Nirmala Sitharaman as the Government of India’s share of dividend approved by the shareholders in the AGM held on August 22, LIC said in a release.

With the ₹2,441.45 crore interim dividend paid on March 1, total dividend paid by the State-owned insurer to the government for 2023-24 totalled ₹6,103.62 crore.

Additional Secretary to the Department of Financial Services in the Finance Ministry M.P. Tangirala, LIC managing directors M. Jagannath, Tablesh Pandey, Sat Pal Bhanoo and R. Doraiswamy and Zonal Managar (I/C) of Northern Zone J.P.S. Bajaj were present, the insurer said. Market leader LIC’s asset base stood at over ₹52.85 lakh crore on on March 31.

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