With a 10% performance rate (1 stock receives 1,000 VND) and nearly 111 million stocks in circulation, PGI estimates that it needs to spend nearly 11 billion VND as a temporary dividend advance for 2023. The payment date is expected to be on March 15, 2024.
According to the latest update, as of December 31, 2022, PGI has 3 major shareholders, including Vietnam National Petroleum Group – Petrolimex (holding 40.95% of capital), Samsung Fire and Marine Insurance from Korea (owning a 20% stake), and Vietnam Joint Stock Commercial Bank for Foreign Trade – Vietcombank (holding 8.03%).
With the above percentage of capital ownership, the 3 major shareholders are expected to receive dividends as follows: Petrolimex (over 4.5 billion VND), Samsung Fire and Marine Insurance (over 2.2 billion VND), and Vietcombank (nearly 900 million VND).
| Share price movement of PGI from the beginning of 2023 to the session on February 20, 2024 |
Prior to the dividend advance, PGI’s stock price increased for 3 consecutive sessions (from February 16-20), reaching 25,000 VND per share at the closing of the session on February 20, an increase of over 11% in just the past 4 sessions.
In terms of business results, in 2023, PGI’s insurance business operating profit increased by 9%, reaching nearly 731 billion VND. Together with a 75% increase in financial operating profit to over 105 billion VND, PGI recorded a 12% increase in net profit compared to the previous year, reaching over 229 billion VND.
 Source: VietstockFinance
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In 2023, PGI aims to achieve nearly 256 billion VND in pre-tax profit, which is almost flat compared to the performance in 2022. Compared to this target, the company has exceeded the set goal by 11%.
