New Delhi. The opposition, including the Congress, had alleged that Life Insurance Corporation (LIC) is under threat during the Modi government. Opposition parties had raised a hue and cry about LIC due to buying shares of Gautam Adani’s companies and their prices falling after the report of Hindenburg Research. The same LIC has once again filled the government’s treasury. LIC has given Rs 3662 crore to the central government as dividend. LIC has given this dividend to the central government for last year. LIC’s AGM was held on 22 August. In which it was decided to give dividend to the central government.
Earlier on March 1, 2024, LIC had given Rs 2441.45 crore as interim dividend to the Central Government. In this way, for the financial year 2023, LIC has given a dividend of more than 6100 crores to the Central Government. At the same time, it was decided in the AGM of LIC to give a final dividend of Rs 6 on each share. The Central Government has the highest number of shares in LIC. The Central Government has 610.36 crore shares of LIC. In this way, according to the total fully paid up shares of 632.49 crore, the stake of the Central Government in LIC is more than 96 percent. Only 3.50 percent of the shares are in private hands.
Last year, when the share price of Adani Group fell after the report of Hindenburg Research, LIC suffered some loss, but then it also gained profit. Talking about LIC’s own shares, the price of one of its shares is more than Rs 1000. When LIC’s IPO came in 2022, at that time the price band of the share was kept at Rs 902 to Rs 949. The share price of LIC also fell many times, but now it is quite high and remains the choice of investors.
