Reliance Life Insurance (RLI) Proposes 5.2632% Cash Dividend for FY 2076/77

Tue, Oct 5, 2021 10:40 AM on Dividend, Bonus & Rights, Latest,

Reliance Life Insurance Limited (RLI) has proposed a 5.2632% dividend for the fiscal year 2076/77.

The meeting of the board of directors held on Ashoj 18 decided to distribute the entirety of the dividend in cash. Since the paid-up capital of the company is Rs. 2.1 Arba, the cash dividend is worth a little over Rs. 11.05 crores and the tax on the dividend is worth a little over Rs. 55.27 lakhs.

The dividend will be distributed only after approval by the central bank and endorsement by the company's upcoming AGM. As of writing, RLI has an LTP of Rs. 506.