LIC's Board To Consider Dividend Payment, Financial Results On May 30

Life Insurance Corporation of India (LIC) will consider payment of dividend during its board meeting, which is scheduled to be held on May 30.

The insurance behemoth informed in a filing to the bourses, that the board will also approve the annual financial results for the year 2021-22 as well as for March quarter.

The company's shares had listed on the exchanges on May 17, after LIC had come out with its initial public offer (IPO) earlier this month. The public issue was oversubscribed, though the shares had a rather flat debut at the stock market as the price range for LIC's IPO was set between Rs 902 and Rs 949 per share.

Government sold over 22.13 crore shares or a 3.5 per cent stake in LIC through the initial share sale.