VNRFY - Vienna Insurance Group: An European Dividend Stock With A Regional Growing Moat
Notes for readers
Vienna Insurance Group (OTCPK:VNRFY) is primarily traded on the Vienna Stock Exchange under the ticker VIG:AV. I will be referring to the Austrian symbol for the article. Amounts are in euro (€) unless mentioned otherwise. EUR-USD 1.330. Price of 1 euro in USD as of November 30, 2018. Furthermore, most of the figures are based on the financial reports of Vienna.
Executive Summary
On 28th of November, Vienna Insurance released its Q3 2018 results. Affected adversely by the fluctuations related to the non-controlling interests, the company recorded a declining