Government Receives Rs 2,400 Crore Dividend Payout From LIC - News18
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FM Nirmala Sitharaman recently inaugurated LIC’s new international business centre at GIFT City, Gujarat. Over the past three months, LIC has delivered a total return of 54 per cent to investors, with a yearly return of the same percentage to its shareholders. Life Insurance Corporation of India (LIC) handed a dividend cheque of Rs 2,441.44 crore to the Finance Minister of India, Nirmala Sitharaman on Friday. The cheque was presented by the Chairperson of LIC, Siddharth Mohanty. LIC announced this transaction through their official Twitter handle, informing investors and users about the dividend payout. The Finance Minister received the dividend cheque in the presence of Financial Services Secretary, Vivek Joshi. As an investor in LIC, the government also received a dividend cheque of Rs 1831 crore last year. Dividends represent a portion of a company’s profits distributed to its shareholders. For example, if a company announces a dividend of Rs 5 per share and an individua...