ICICI Lombard board approves interim dividend of ₹4 per share

The IPO involves dilution of up to 86,247,187 equity shares of face value of Rs10 each of ICICI Lombard General Insurance. Photo: Pradeep Gaur/Mint

1 min read . Updated: 05 Mar 2021, 03:54 PM IST Edited By Aparna Banerjea

ICICI Lombard board says that interim dividend will be paid on or before April 4, 2021

Non-life playerICICI Lombard on Friday said that its board has approved interim dividend of ₹4 per equity share and will be paid on or before 4 April, 2021.

The dividend per share will be at the rate of 40.0% of face value of ₹10 each, for FY21, the company said in a regulatory filing.

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"The interim dividend will be paid to those shareholders whose names appear in the record of the Company/Depository(ies) as on the Record Date i.e. Friday, March 19, 2021," the company further stated.

Meanwhile, in January, ICICI Lombard reported a marginal 6.6 per cent growth in net income to ₹314 crore for the December quarter, boosted by the massive rally in the equity markets swelling its investment gains.

It had posted a net profit of ₹294.11 crore in the year-ago period, the company said in a regulatory filing.

Gross direct premium income grew 9.2 per cent to ₹4,034 crore from ₹3,693 crore, against the industry's 4.9 per cent growth.

The combined ratio, one of the key profitability metrics, improved to 97.9 compared to 98.7, the company said.

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