LIC Housing Finance said that the board of directors of the company has recommended a dividend of Rs 4.50 a equity share of Rs 2 each (225% including silver jubilee dividend of 25%).
It is subject to approval of the members of the company at the forthcoming annual general meeting.
The stock had underperformed the market over the past one month till Apr. 17, 2014, falling 6.76% compared with the Sensex's 3.76% rise. It outperformed the market in past one quarter, gaining 21.90% as against 7.43% rise in the Sensex.
Shares of the company gained Rs 5.05, or 1.87%, to trade at Rs 274.50. The total volume of shares traded was 353,657 at the BSE (1.10 p.m., Monday).