This LIC Backed Mid Cap Housing Finance Is Paying 425% Dividend, Turning Ex-Dividend In September

LIC Housing Finance Limited, a LIC-backed Housing Fianance Company will soon pay a final dividend of 425% to its shareholders. In mid-September, the stocks of the company will trade ex-dividend. However, the record date for the same has yet not been disclosed by the company. As mentioned, it is a LIC-backed mic cap Housing Finance Company with a market capitalization of Rs 20,874.89 crore.

LIC Housing Finance is amongst the pioneers in India ensuring access to housing finance for home ownership. With a strong business foundation, an extensive distribution network and proven industry expertise, LIC Housing Finance is a respected and trusted financial services company.

425% Final Dividend

The Board Meeting was held on May 18, 2022, where the Board of directors of LIC Housing Finance Limited approved a recommendation for a dividend of 425% for the Financial year 2021-2022. The recommended final dividend of 425% i.e. Rs 8.50 per equity share of Rs 2 each.
 
 The Board of Directors of the company in its filing to the BSE & NSE on 25 May 2022, stated, "The Board of Directors of the Company in its meeting held today i.e. 18% May, 2022, inter alia approved recommendation of dividend for financial year 2021-2022 @ 425% i.e. Rs.8.50 per equity share of Rs.2/-each. The dividend on equity shares, will be paid on or after date of AGM. "
 
Ex-Dividend Date - The ex-dividend date of the recommended 425% final dividend is September 19, 2022.

LIC Housing Finance Dividend History

LIC Housing Finance has a rich history of dividend recommendations. Since June 2001, the company declared 23 Dividends. It has maintained a good track record of dividend payouts. In the past 21 years, the company has had 1 Interim and 22 Final dividends. It has not declared any special dividends so far. Last year, the company also declared a final dividend of 425% amounting to Rs 8.50 per equity share.

Stock Outlook

On Monday, 22 August, the stocks of the company opened at Rs 391 apiece, after a fall of 3.13%, the stocks closed at Rs 379.50 apiece. The 52-week high of the stock is Rs 291.75 and the 52 week low of the stock is Rs 462.50 apiece, respectively. On intraday, the stock is trading near its low of Rs 378.45 apiece.

Returns on Investments

The stocks of the company in past 1 week declined 1.82%, whereas, gained roughly 0.8% in the past 1 month. Over the past 3 months and 1 year, the stocks have surged roughly 2.6% and 1.07%, respectively. In the past 3 and 5 years, the stocks gave negative returns of 8.33% and 40.34%, respectively.

About - LIC Housing Finance Limited

Incorporated in 1989, LIC Housing Finance Ltd is one of the largest Housing Finance Companies in India with a key objective of providing long term finance to individuals for the purchase or construction of house/flat for residential purposes in India. LIC Housing Finance also provides finance on existing property for business/ personal needs and also gives loans to professionals for purchase/construction of Clinics/Nursing Homes/ Diagnostic Centers/ Office Space and also for purchase of equipment. The Company also provides finance to builders and developers engaged in the business of construction of houses or flats for residential purpose and to be sold by them. The Company went public in 1994 and since then its stocks are listed and actively traded on the National Stock Exchange (NSE) and Bombay Stock Exchange Limited (BSE).

 

Disclaimer

The stock has been sourced from NSE & BSE. Greynium Information Technologies, and the Author are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.