Several prominent companies are gearing up to reward their shareholders with dividend payouts, as recent announcements reveal a diverse range of interim dividends across various sectors. This development comes as welcome news for investors seeking regular income from their equity investments.

Key Dividend Announcements

Dividend Highlights

Nuvama Wealth Management Ltd. stands out with the highest interim dividend of Rs 70.00 per share, followed by Ajanta Pharma Ltd. at Rs 28.00. Godfrey Phillips India Ltd. has announced a dividend of Rs 17.00 per share, with a record date set for November 10.

Several infrastructure and industrial companies are also offering substantial dividends. Garden Reach Shipbuilders & Engineers Ltd. plans to distribute Rs 5.75 per share, while both Gujarat Pipavav Port Ltd. and Chambal Fertilisers & Chemicals Ltd. have declared dividends of Rs 5.00 per share.

Notable mentions include Power Grid Corporation of India Ltd., Oil & Natural Gas Corporation Ltd. (ONGC), and Patanjali Foods Ltd., though specific dividend amounts for these companies were not provided in the announcement.

Smaller Dividends and Record Dates

On the lower end of the spectrum, Elitecon International Ltd. and Sagility Ltd. are offering the smallest dividends at Rs 0.05 per share each. Steelcast Ltd. and Chalet Hotels Ltd. have announced dividends of Rs 0.36 and Rs 1.00 per share, respectively.

Importance of Record Dates

Investors should pay close attention to the record dates for dividend eligibility. Under India's T+1 settlement cycle, shares purchased on the record date itself will not qualify for dividend payments. This underscores the importance of timing for investors looking to benefit from these dividend distributions.

Power Grid Corporation's Recent Developments

While specific dividend details for Power Grid Corporation of India Ltd. were not provided, recent corporate actions at the company are worth noting. According to the latest LODR (Listing Obligations and Disclosure Requirements) data, Power Grid has undergone changes in its joint statutory auditors.

The Comptroller & Auditor General of India (C&AG) has appointed M/s. ASA & Associates LLP, New Delhi, as joint statutory auditors for the Financial Year 2025-26. This appointment comes in place of M/s. Rama K Gupta & Co., New Delhi, who resigned from their position due to being allotted another statutory audit assignment by C&AG for the same financial year.

This change in auditors reflects Power Grid's commitment to maintaining transparent and compliant financial practices, which is crucial for investor confidence.

Conclusion

The diverse range of dividend announcements across various sectors presents opportunities for income-seeking investors. As companies continue to share their profits with shareholders, it's crucial for investors to stay informed about record dates and company-specific developments to make well-informed investment decisions.

Life Insurance Corporation of India (LIC), the country's largest insurer, reported a 16.36% year-over-year increase in profit after tax to Rs 21,040 crore for the half year ended September 30. The company's financial results, released on November 6, highlight its continued focus on product diversification and operational efficiency.

Key Financial Highlights

• Total premium income rose by 5.14% to Rs 2,45,680 crore.
• Individual new business premium declined by 3.54% to Rs 28,491 crore.
• Group business total premium income increased by 6.73% to Rs 94,965 crore.
• Value of New Business (VNB) grew by 12.30% to Rs 5,111 crore.
• VNB margin expanded by 140 basis points to 17.6%.
• Assets Under Management (AUM) increased by 3.31% to Rs 57.23 lakh crore.

Product Mix and Distribution

LIC continued to make progress in diversifying its product portfolio:

• Non-par Annualized Premium Equivalent (APE) share within individual business increased to 36.31%, up from 26.31% in the previous year's corresponding period.
• Individual non-par APE grew by 30.47% to Rs 6,234 crore.
• Bancassurance and alternate channels' share of individual new business premium rose to 7.12%, compared to 4.10% in the previous year.

Operational Efficiency

The insurer reported improvements in key operational metrics:

• Overall expense ratio decreased by 146 basis points to 11.28%.
• Solvency ratio improved to 2.13 from 1.98 a year ago.

Market Position

LIC maintained its leadership position in the Indian life insurance market:

• Overall market share based on First Year Premium Income was 59.41%.
• Market share in individual business stood at 37.21%.
• Group business market share was 72.74%.

Management Commentary

R Doraiswamy, CEO & MD of LIC, stated: "We at LIC are very optimistic about the positive impact of the GST changes announced for the Insurance Industry by the Government of India during September. It is our firm belief that these changes are in the best interest of customers and will lead to further accelerated growth of the life insurance industry in India."

He added, "As the leader of the life insurance industry in India, we are aware of our responsibility to enhance both insurance penetration and density and continue to focus our efforts and channel our energies into achieving 'Insurance for All by 2047'."

LIC's results demonstrate its ongoing efforts to diversify its product mix, enhance profitability, and optimize costs while maintaining its dominant market position in the Indian life insurance sector.