PG plc, the company that runs the PAVI and PAMA shopping malls and supermarkets in Qormi and Mosta respectively, has announced that it will be distributing a net interim dividend of €4.5 million.

The dividend distribution, the second of the financial year, was first announced at the start of this month.

In a market update on Tuesday, the company confirmed that the Board of Directors resolved to distribute a net interim dividend that is equivalent to €0.0416667 net (€0.0641026 gross) per ordinary share.

The dividend will be paid on 12th July 2024 to the ordinary shareholders who were on the company’s register of members as maintained at the Central Securities Depository at the Malta Stock Exchange as at the close of business on 5th July 2024.

This comes a few months after the company approved a net interim dividend of €2.75 million, distributed to ordinary shareholders on 11th December 2023.

PG Group is an investment company with a number of ventures spread across the Maltese Islands. It has steadily grown its operations over the years, and now has around 350 employees. Aside from PAVI and PAMA, it is also the franchisee of ZARA and ZARA Home in Sliema and Mosta.

During the six months ended 31st October 2023, the company recorded €10.1 million in pre-tax profit, representing an 18.6 per cent increase from figures from the same period in 2022 (€8.5 million). This was largely due to an upturn in turnover, with revenue soaring to €96.2 million.