Life Insurance Corporation of India (LIC) handed over a dividend cheque of ₹12,207.25 crore to the Government of India on Monday. According to reports from The Hindu BusinessLine, the cheque was presented by R. Doraiswamy, CEO and Managing Director of LIC, to Union Finance and Corporate Affairs Minister Nirmala Sitharaman. The amount represents the Government of India's share of the dividend approved by LIC shareholders during the company's 5th Annual General Meeting held on July 27, 2026. The ceremony was attended by Sanjay Lohiya, Secretary, Department of Financial Services, Ministry of Finance, along with senior LIC officials including Managing Directors Ratnakar Patnaik and R. Chander. Notably, Lohiya was separately appointed as Government Nominee Director of the Corporation at the same AGM.
The board of LIC has recommended a final dividend of ₹10 per equity share with a face value of ₹10 each for the financial year ended March 31, 2026. As reported by The Hindu BusinessLine, the dividend resolution passed with over 99.99 per cent of votes in favour, demonstrating exceptional shareholder confidence. The dividend announcement follows LIC's maiden bonus share issue completed in June 2026 in a 1:1 ratio, granting one bonus share for every share held by existing shareholders. All seven resolutions placed before shareholders at the AGM were passed with requisite majority through e-voting conducted between July 23 and July 26, 2026, on the NSDL platform.
According to reports from The Hindu BusinessLine, LIC's total asset base stood at ₹59.03 lakh crore as of March 31, 2026, making it one of the country's largest financial institutions. The company is completing 70 years since its incorporation and continues to maintain its leadership position in the Indian life insurance market. LIC shares closed at ₹423.30 on the NSE on July 29, down 0.90% or ₹3.85 for the day, with a market capitalisation of ₹2.68 lakh crore and trading at a price-to-earnings ratio of 9.32.
The AGM adopted LIC's standalone and consolidated financial statements for FY2025-26 and approved the appointment of Zonal and Divisional Auditors. As reported by The Hindu BusinessLine, shareholders additionally cleared material related party transactions with LIC Mutual Fund Asset Management Limited, which passed with approximately 99.99 per cent approval from eligible voters, after promoter and related-party votes were excluded as required under SEBI regulations. The company's solvency ratio came in at 2.35%, compared to 2.11% in the corresponding period last year and 2.19% in the December quarter.
