{"id":159522,"date":"2023-09-15T13:51:04","date_gmt":"2023-09-15T08:21:04","guid":{"rendered":"https:\/\/www.gkseries.com\/blog\/?p=159522"},"modified":"2023-09-15T13:51:05","modified_gmt":"2023-09-15T08:21:05","slug":"lic-delivers-dividend-cheque-of-%e2%82%b91831-crore-to-finance-minister","status":"publish","type":"post","link":"https:\/\/www.gkseries.com\/blog\/lic-delivers-dividend-cheque-of-%e2%82%b91831-crore-to-finance-minister\/","title":{"rendered":"LIC Delivers Dividend Cheque of \u20b91,831 Crore to Finance Minister"},"content":{"rendered":"\n<p><strong>LIC Delivers Dividend Cheque of \u20b91,831 Crore to Finance Minister:<\/strong> LIC Chairman Siddhartha Mohanty handed over a check for Rs. 1,831.09 crore to Union Finance and Corporate Affairs Minister Nirmala Sitharaman. The Centre&#8217;s share for fiscal year 2022-23 is represented by this dividend. It was officially approved by LIC\u2019s shareholders during the Annual General Meeting held on August 22 of the same year.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.gkseries.com\/blog\/daily-current-affairs-and-quiz\/\" target=\"_blank\" rel=\"noreferrer noopener\">Daily Current Affairs Quiz: September 2023<\/a><\/p>\n\n\n\n<p><strong>Government\u2019s Majority Stake<\/strong><\/p>\n\n\n\n<p>As of the end of June in the current year, the Indian government held an impressive equity stake of 96.5 percent in LIC, making it the majority shareholder.<\/p>\n\n\n\n<p><strong>Dividend Amount and Shareholders\u2019 Approval<\/strong><\/p>\n\n\n\n<p>The final dividend declared for the fiscal year 2022-23 amounted to \u20b93 per share, and it was agreed upon by LIC\u2019s shareholders.<\/p>\n\n\n\n<p><strong>Mega IPO and Current Share Performance<\/strong><\/p>\n\n\n\n<p>LIC, the country&#8217;s largest insurer, made news in May of the previous year when it launched its massive 21,000 crore initial public offering (IPO). This IPO marked the most substantial public issue in the country\u2019s history up to that point.<\/p>\n\n\n\n<p>Despite its initial issue price of \u20b9949 per share during the IPO, LIC\u2019s shares are currently trading at \u20b9660.80 on the stock exchanges.<\/p>\n\n\n\n<p><strong>Robust Profit Growth<\/strong><\/p>\n\n\n\n<p>Benefiting from a substantial increase in net investment income, LIC reported a remarkable surge in net profit for the first quarter ending on June 30, 2023, reaching \u20b99,544 crore, compared to the previous year\u2019s \u20b9683 crore.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>LIC Delivers Dividend Cheque of \u20b91,831 Crore to Finance Minister: LIC Chairman Siddhartha Mohanty handed over a check for Rs. 1,831.09 crore to Union Finance and Corporate Affairs Minister Nirmala Sitharaman. The Centre&#8217;s share for fiscal year 2022-23 is represented by this dividend. It was officially approved by LIC\u2019s shareholders during the Annual General Meeting [&hellip;]<\/p>\n","protected":false},"author":894,"featured_media":159523,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5153],"tags":[107],"offerexpiration":[],"class_list":["post-159522","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs-september-2023","tag-finance-current-affairs"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/159522","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/users\/894"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=159522"}],"version-history":[{"count":1,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/159522\/revisions"}],"predecessor-version":[{"id":159524,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/159522\/revisions\/159524"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/159523"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=159522"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=159522"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=159522"},{"taxonomy":"offerexpiration","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/offerexpiration?post=159522"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}