Large-cap Insurance Sector Stock Recommended 55% Final Dividend, Stock Rallies 2.41%

ICICI Lombard on Tuesday, April 18, 2023, recommended a final dividend of Rs 5.50/share i.e. 55% for the financial year ending March 31, 2023. The recommended dividend is subject to the approval of the members of the company at the ensuing Annual General Meeting, according to the exchange filing. ICICI Lombard is a large-cap general insurance company. It has a market valuation of Rs 55,530.84 crore.

ICICI Lombard recommended Final Dividend of Rs 5.50/share

ICICI Lombard in its exchange filing has said, "The Board at the above Meeting also recommended final dividend of Rs 5.50/- per equity share i.e. at the rate of 55.0% of face value of Rs 10/- each for the financial year ended March 31, 2023, subject to approval of the Members of the Company at the ensuing Annual General Meeting."

ICICI Lombard's Stock Outlook & Returns

On NSE, the stock gained 2.41% and closed at Rs 1,130.75/share. It recorded its 52 week high at Rs 1,412/share on 21 April 2022 and 52 week low at Rs 1,049.05/share on 16 March 2023. The stock has given 4.14% positive return in 1 week and 5.57% in 1 month, respectively. However, it has fallen in 1 and 3 years, giving 16.69% negative return in 1 year and 5.72% in 3 years, respectively. It has given 46.19% positive return in 5 years.

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