Agribank Insurance pays dividends up to 20%

The Annual General Meeting of Shareholders discussed issues related to business targets for 2024, profit distribution plans, cash dividend payments and other issues. Agribank Insurance submitted to the General Meeting of Shareholders a resolution to pay dividends at a rate of 20%.

The General Meeting of Shareholders also elected a number of additional senior personnel - Photo: V

Agricultural Bank Insurance Joint Stock Company (Agribank Insurance) has just held the 2024 Annual General Meeting of Shareholders, reported the 2023 business results and approved the 2024 operation plan. At the meeting, Agribank Insurance sent to the entire conference and shareholders important information about the 2023 business results and solutions to develop the Company in the context of many market difficulties. In 2023, the insurance market encountered certain difficulties, insurance premium revenue decreased due to the impact of the difficult economy, state management agencies increased inspection and management of bancassurance channels and customer confidence in the insurance market decreased due to the media crisis about the insurance industry. Overcoming these challenges, Agribank Insurance still recorded positive business results: pre-tax profit reached 308 billion VND, completing 101% of the plan; ROE reached 16.8%; early completion of the network expansion target with 20 branches; early completion of the charter capital increase target of VND 723.9 billion, etc. According to the results of self-assessment and grading of business activities according to Circular 195 of the Ministry of Finance, Agribank Insurance's business activities continue to be classified as 1A (the highest category). The annual general meeting of shareholders discussed issues regarding business goals for 2024, profit distribution plan, cash dividend payment and some other contents. Agribank Insurance submitted to the General Meeting of Shareholders a resolution to pay dividends at a rate of 20%. Regarding the 2024 business plan, Agribank Insurance sets a target of insurance business revenue of VND 2,634 billion, financial revenue of VND 148 billion, return on equity (ROE) of at least 15%, pre-tax profit of at least VND 320 billion, an increase of 5.8%. The minimum dividend for 2024 is expected to remain at 14%. To achieve the above goals, Agribank Insurance will optimize the potential of the Bancassurance channel, develop new product distribution channels, organize human resources, build technology applications, promote communication, control risks and review regulations and processes. Respond to shareholders' recommendations on network expansion; investment in building facilities; business plan; listing shares, paying dividends, etc., Mr. Nguyen Tien Hai, Chairman of the Board of Directors of Agribank Insurance, emphasized: Agribank Insurance always strives to bring harmonious benefits to shareholders. Agribank Insurance will also step up the construction of facilities, expand the network of branches to meet development requirements in the coming period.

"The company will also make every effort to complete the revenue target of 3,300 billion set out in the development plan and fully prepare the necessary conditions to be ready to list ABI shares on the stock exchange in 2025," said Mr. Nguyen Tien Hai.

The General Meeting of Shareholders also elected Mr. Hoang Thanh Tung to hold the position of member of the Board of Directors; elected Mr. Kieu Gia Quy to hold the position of member of the Supervisory Board for the 2022 - 2027 term; The Congress also voted to pass the Resolution of the 2024 Congress.

Mr. Minh

Source: https://baochinhphu.vn/bao-hiem-agribank-chi-tra-co-tuc-len-toi-20-102240702201138226.htm