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LIC HFL to pay 425 percent dividend soon: Check record date

28 Aug , 2022   By : Kanchan Joshi


LIC HFL to pay 425 percent dividend soon: Check record date

With a market valuation of ?22,057.53 crore, LIC Housing Finance Ltd. is a large-cap corporation that provides financial services. One of the leading housing finance companies in India is LIC Housing Finance Ltd (LICHFL), which also has LICHFL Asset Management Company, LICHFL Financial Services, LICHFL Trustee Company Private Ltd, and LICHFL Care Homes Ltd as subsidiaries. The Company's Board of Directors approved a dividend of 425% for the fiscal year 2021–2022 at a face value of ?2 (or ?8.50 for each equity share of ?2).


In order to determine the eligibility of the shareholders for the dividend purpose, the company has said in a regulatory filing that “The Board approved that the Register of Members and the Share Transfer Books of the Company shall remain closed from Wednesday, 21st September, 2022 to Thursday, 29th September, 2022 (both days inclusive) for the purpose of payment of dividend and 33rd Annual General Meeting. Accordingly, dividend will be paid to those members holding shares in physical form, whose names would appear on the Register of Members of the Company, at the close of business hours on Thursday, 29th September, 2022 after giving effect to all valid transfers in physical form lodged with the Company on or before Tuesday, 20th September, 2022 and in respect of the shares held in electronic form, on the basis of the details furnished by National Securities Depository Ltd. (NSDL) and Central Depository Services (India) Ltd. (CDSL) at the close of business hours on Saturday, Tuesday, 20th September, 2022."


At the current share price of ?401.90 of LIC HFL, the dividend of ?8.50 per share generates a yield of 2.11%. Data on BSE indicates that the record date has been set as September 29, 2022, while the ex-date for the dividend purpose is September 19, 2022.


On Friday the shares of LIC HFL closed at ?401.90 apiece, up by 0.012% from the previous close of ?401.85 per share. In the last 1 year, the stock has gained 1.13% and on a YTD basis, the stock has gained 5.93% so far in 2022. On the NSE, the shares of LIC Housing Finance Limited touched a 52-week-high of ?462.50 on (19-October-2021) and a 52-week-low of ?291.75 on (20-June-2022) which indicates that at the current market price the stock is trading 13.10?low the high and 37.75?ove the low.


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