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ICICI Lombard Board Proposes ₹7 Dividend for FY26
ICICI Lombard General Insurance's board has recommended a final dividend of ₹7.0 per equity share for the financial year 2025-26 (FY26). This proposal is subject to shareholder approval at the company's Annual General Meeting (AGM), scheduled for June 19, 2026.
Key dates for shareholders include May 29, 2026, as the record date to determine eligibility for the dividend. The company plans to complete the dividend payout on or before July 3, 2026.
Dividend History and Context
In the previous financial year, FY2023-24 (FY24), ICICI Lombard declared a final dividend of ₹5.0 per equity share. Including interim dividends, the total payout for FY24 reached ₹7.5 per share. The proposed ₹7.0 dividend for FY26 compares favorably to the FY24 final dividend, indicating a consistent approach to shareholder returns within the generally stable Indian general insurance sector.
Shareholder Actions and Tax Rules
Shareholders must ensure their Permanent Account Number (PAN) and other necessary tax documents are updated with the company by the June 2, 2026 deadline. Failure to do so could result in a higher Tax Deducted at Source (TDS) rate of 20% for resident shareholders. Inaccurate or incomplete tax information may also lead to penalties. Non-resident shareholders need to submit specific documentation to claim tax treaty benefits; otherwise, standard TDS rates will apply.
Peer Comparison
Among its peers, Bajaj Allianz General Insurance recommended a final dividend of ₹10 per share for FY2023-24. New India Assurance Co. Ltd. declared a final dividend of ₹1.0 per share for the same period.
Looking Ahead
Investors will be watching for shareholder approval of the dividend at the June 19, 2026 AGM. Key actions include timely submission of tax documents by shareholders before the June 2 deadline and the company's adherence to the July 3, 2026 payout timeline. Future dividend policies for FY27 will also be of interest.