Insurer PVI to pay dividend at 22.5 per cent

HÀ NỘI — PetroVietnam Insurance Corp (PVI), an affiliate of the National Oil and Gas Group (PVN) plans to pay  二0 一 九's dividend at a rate of  二 二. 五 per cent,  二. 五 per cent higher than the initial plan.

The company has approved the target revenue for  二0 二0 of VNĐ 一0. 一 trillion (US$ 四 三 二. 八 million), down  八 per cent from last year.

Post-tax profit is hoped to hit VNĐ 六 六 九 billion, equivalent to the same as last year. The expected dividend rate is the same as  二0 一 九 at  二 二. 五 per cent.

In  二0 二0, PVI plans to restructure its subsidiaries in a more streamlined and efficient manner and promote the application of information technology in corporate governance to increase revenue and efficiency, especially in retail operations.

By the end of  二0 一 九, PVI achieved revenue of nearly VNĐ 一 一. 一 trillion,  二 per cent above the yearly plan. Pre-tax profit reached VNĐ 八 七 四 billion, exceeding the goal by  一 三 per cent and up  一 七 per cent over the previous year.

At the annual shareholders meeting on Friday, PVI’s Board of Directors said the global economy has been negatively affected by the COVID- 一 九 pandemic, and the company would take all measures to reduce costs and minimise damage caused by the disease.

PVI would also accelerate reviewing its investment portfolios to turn risks into opportunities, the leaders said.

At the meeting, shareholders also agreed on the dismissal and addition of supervisory board members for the term  二0 一 七- 二0 二 二. The company dismissed Trần Thu Hà and elected Lê Tài Đức, a representative of the Vietnam Oil and Gas Group. — VNS