Edison issues flash on PB Holding (PBH): Bovemij proposes to pay dividend for 2023

London, UK, 6 December 2023

Edison issues flash on PB Holding (PBH): Bovemij proposes to pay dividend for 2023

PB Holding reported that the company’s most important asset, car insurer Bovemij, in which it has a 5.3% stake, intends to pay an unexpected special dividend in December 2023 of €0.60 per Bovemij certificate. This represents €0.31m for PB Holding’s 515k Bovemij certificates. The dividend still has to be approved at an extraordinary general meeting on 15 December. Where no revenues were previously expected in 2023, €0.31m revenues can be expected if the dividend is approved.

The decision for Bovemij to pay out a dividend has to do with its 60-year jubilee and its solid financial position. According to PB Holding, a large part of the €0.31m proceeds from the dividend can be used for further buybacks of PB Holding shares and/or the purchase of Bovemij certificates. PB Holding had a net cash position of €0.5m following a share buyback after H1, which is enough to cover operational costs for a few years.

 
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