ICICI Prudential Life Insurance has announced a final dividend of ₹1.65 per equity share for the financial year ending March 31, 2026. This recommendation was made by the Board of Directors at their meeting on April 14, 2026, and is subject to approval at the Annual General Meeting scheduled for June 30, 2026. The dividend will be distributed to shareholders holding equity shares as of the record date, June 5, 2026.
The company has outlined the tax implications for the dividend distribution, in accordance with the Income-tax Act, 2025. For resident individual shareholders, a tax deduction at source (TDS) of 10% will apply, unless the aggregate dividend does not exceed ₹10,000 in a tax year, or if the shareholder provides a duly filled Form No. 121. In the absence of a PAN, the TDS rate increases to 20%.
Resident non-individual shareholders such as insurance companies, mutual funds, alternative investment funds, national pension system trusts, and business trusts can avail nil or lower TDS rates by submitting the required documentation, including self-attested certificates and self-declarations.
Non-resident shareholders, including foreign institutional investors, are subject to a TDS rate of 20% plus applicable surcharge and cess. However, they may opt for the provisions of the Double Tax Avoidance Agreement (DTAA) if it is more beneficial. To avail of this, non-resident shareholders must submit a tax residency certificate, Form 41, and a self-declaration.
ICICI Prudential Life Insurance has requested shareholders to ensure their tax residential status and other details are updated with the relevant depositories or the company’s registrar and share transfer agent, KFin Technologies Limited.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).