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LIC: Public sector insurer Life Insurance Corporation of India (LIC) has declared dividend for the financial year 2023-24. The board of directors of the company has recommended a dividend of Rs.6 per share. Earlier, the company had paid an interim dividend of Rs 4 to shareholders for the year 2023-24. Along with this, LIC's net profit increased by around two percent in the fourth quarter ended March. Awaiting shareholders' approval for the dividend, LIC chairman Siddharth Mohanty said the board of directors has recommended a dividend of Rs 6 per share for 2023-24. This is subject to shareholder approval. Earlier, the company had paid an interim dividend of Rs 4 in 2023-24. Including the interim and final dividend, it will come to Rs 10 per share, he said. Regarding the financial figures, Mohanty said, “Our performance is good. We are now focused on increasing our market share across categories. Along with this, our focus is on various parameters that create the best value for all parties involved. LIC's net profit rose two percent to Rs 13,763 crore in the fourth quarter ended March 2024. The profit of the company has increased marginally mainly due to the increase in salary. Earlier, the insurance company posted a net profit of Rs 13,428 crore in the same quarter of FY2022-23. LIC said in a stock exchange filing on Monday that its total income rose to Rs 2,50,923 crore in the January-March quarter of the last financial year 2023-24 from Rs 2,00,185 crore in the same quarter. previous year. The market rally for the second consecutive day in early trade highlighted an improvement in Sensex-Nifty LIC's premium returns. The company's first-year premium income improved to Rs 13,810 crore in the quarter ended March 2024 from Rs 12,811 crore in the same quarter a year ago. LIC's net profit for FY 2023-24 stood at Rs 40,676 crore as against Rs 36,397 crore in the previous fiscal. During the period, gross premium income stood at Rs 4,75,070 crore for the quarter ended March 2024, as against Rs 4,74,005 crore a year ago. Meanwhile, LIC's assets under management rose 16.48 percent to Rs 51,21,887 crore in the fiscal year ended March 31, 2024. A year ago it was Rs 43,97,205 crore. LIC, which declared a dividend for 2023-24, reported a two per cent rise in fourth-quarter profit.