An insurance company is set to pay over 100 billion in cash dividends.

With 110.8 million shares in circulation, this insurance company will allocate approximately 110.8 billion dongs to pay interim dividends to shareholders.

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Petrolimex Insurance Joint Stock Company (PJICO – Stock code: PGI) has recently announced the decision of the Board of Directors regarding the interim cash dividend payout at a rate of 10%, equivalent to 1,000 Vietnamese dong per share.

The dividend payment source is taken from the business profit of 2023. The shareholder list closing date is February 26 and the dividend payment start date is March 15, 2024.

With 110.8 million outstanding shares, PJICO will spend about 110.8 billion Vietnamese dong to implement the interim dividend payout for shareholders. Earlier, in the beginning of 2023, PJICO also implemented the interim cash dividend payout at a rate of 12%, equivalent to 1,200 Vietnamese dong per share.

At the end of the trading session on February 26, PGI stock price stopped at 23,000 Vietnamese dong, a slight decrease of 3% compared to the beginning of the year. Like most insurance stocks, PGI stock has very low liquidity.

In terms of business results, in 2023, PJICO recorded a post-tax profit of 229.1 billion Vietnamese dong, an increase of 12.4% compared to 2022. As of December 31, 2023, the company’s total assets reached 7,449 billion Vietnamese dong, an increase of 10.2% compared to the beginning of the year.