PVI sets record date for dividend payment of 32% in cash.

Shareholders owning one PVI share will receive 3,200 VND in dividends. PVI is a company that consistently pays high dividends. This is the second highest dividend payout in the company's history since its establishment.

PVI Joint Stock Company (stock code PVI - HNX exchange) has just announced the record date for shareholders to receive the 2023 cash dividend at a rate of 32% (3,200 VND/share) on August 30, 2024. Therefore, the ex-dividend date will be August 29, 2024. The dividend will be paid to shareholders on September 20, 2024.

With over 234.2 million shares outstanding, PVI will spend approximately VND 750 billion to pay dividends this time. Currently, HDI Global SE (a company wholly owned by Talanx Group) is the largest shareholder of PVI, owning over 96 million shares (41.05%), and the second largest shareholder is Vietnam Oil and Gas Group (PVN), owning nearly 82 million shares (35%). These two entities will receive VND 235.6 billion and VND 200.8 billion in dividends from PVI, respectively.

With high profit margins, PVI is one of the insurance companies that consistently pays high dividends in recent years. Previously, at the 2024 Annual General Meeting of Shareholders, shareholders approved a cash dividend plan for 2023 of 28.5%. However, the company stated that, thanks to consolidated revenue of VND 16,083 billion in 2023, exceeding the annual plan by 119%, and consolidated pre-tax profit of VND 1,246 billion, exceeding the annual plan by 126%, PVI increased its dividend payout plan to 32%.

This is the second highest dividend payout in the company's history since its establishment. In 2021, PVI paid a dividend at a rate of 33%. In 2024, the company plans a minimum dividend payout of 28.5%.

Regarding business performance, in the second quarter of 2024, PVI recorded total revenue of VND 4,812 billion, an increase of 48% compared to the same period last year. Of this, gross premium revenue reached VND 2,878 billion, an increase of 16.6% compared to the same period last year. Reinsurance premium revenue reached VND 1,645 billion, a 3.2-fold increase compared to the same period last year. Net profit attributable to parent company shareholders reached VND 276 billion, a decrease of 10.8% compared to the same period.

For the first half of 2024, PVI achieved total revenue of VND 10,946 billion, a 51% increase compared to the same period last year. Net profit after tax reached VND 636 billion, a 12.5% ​​increase.

In 2024, the company's shareholders approved a plan for total revenue of VND 17,398 billion and pre-tax profit of VND 1,080 billion. After six months, the company had achieved 63% of its revenue target and 73% of its profit target for the whole year of 2024.

At the Investor Conference themed "Leading the Market, Together Building the Future" held in May 2024, PVI's leadership stated that the company was preparing for a listing on the HoSE (Ho Chi Minh Stock Exchange). According to the plan approved by the Government , the Vietnam Oil and Gas Group (PVN) will divest its stake in PVI before the end of 2025. Currently, PVN owns 35% of PVI's capital, and the initial steps for the divestment process have been prepared. However, the divestment process depends on many factors and requires careful preparation and consultation, along with the impact of favorable market conditions.

On the stock market, PVI shares are currently trading at around 52,400 VND per share, representing a 17% increase compared to the year-end price.

Source: https://baodautu.vn/pvi-chot-quyen-tra-co-tuc-32-bang-tien-d223133.html