BIDV is about to receive nearly 48 billion dong of dividend from BIC
admin 11-10-2020, 07:52

BIC announced October 29 as the last registration date to receive cash dividends for 2019, the rate of 8%. With a 51% stake in BIC, it is expected that BIDV will receive nearly 48 billion dong.

BIDV is about to receive nearly 48 billion dong of dividend from BIC

A transaction point of BIDV. (Photo: Quang Hung)

BIDV Insurance Corporation (BIC – Code: BIC) announces that the Board of Directors has decided October 29 as the last registration date to receive cash dividends of 2019 at the rate of 8% (each shareholder owns 1 share will receive 800 dong). The date of dividend payment is 11/20.

Previously, the dividend payment plan for 2019 was approved by the 2020 Annual General Meeting of Shareholders.

With nearly 117.3 million shares outstanding, BIC is expected to spend about 94.8 billion dong to pay dividends. In which, BIDV – a 51% owned bank in BIC will receive nearly 48 billion dong in cash.

BIC was established on the basis of the strategy of establishing a Financial Group through BIDV’s acquisition of the capital contribution of QBE International Insurance Group (Australia) in the Vietnam Australia Insurance Joint Venture (an enterprise with investment capital foreign countries, established and operating in Vietnam since 1999) and officially put into operation under the name of BIC since January 1, 2006.

Regarding BIC’s business results, in 2020, before the complicated impact of the COVID-19 translation, the company aims to achieve VND 2,425 billion in premium revenue for the Parent Company and VND 241 billion in consolidated profit before tax. . Dividends for 2020 are expected at 8%.

In the first 6 months of 2020, the growth rate of original insurance premium of BIC reached 12%, consolidated profit before tax reached nearly 193 billion, up 30% over the same period in 2019.

Total assets by the end of June 30 were at VND 5,803 billion, up 5.6%. In particular, cash and cash equivalents reached nearly 234 billion, nearly 2 times higher than the end of 2019.

As of the end of June, BIC has a charter capital of nearly 1,173 billion VND with 1 subsidiary and 26 member companies, with the number of employees working in the whole system reaching 1,077 people.

Source: vietnambiz.vn – Translated by fintel.vn