Purification and Zakat (for long-term investing) calculations are in USD per share and based on AAOIFI methodology. AAOIFI requires purification every financial period (e.g. quarterly).
If you follow S&P Shariah’s Dividend-only purification, then remove the impure income % from the dividends you receive. No purification required for non-dividend paying stocks, according to S&P Shariah.
For Zakat, if you did not invest in a company from a long term perspective, then consider the shares as trading goods and give 2.5% of the total value if a year has passed on them.
Company Profile
American Coastal Insurance Corporation is a property and casualty insurance holding company. The Company sources, writes and services residential commercial and personal property and casualty insurance policies using a network of agents and two wholly owned insurance subsidiaries. Its primary products are commercial and homeowners’ residential property insurance. It offers commercial residential insurance in Florida. Its segments include Personal Lines Business and Commercial Lines Business. Its personal lines business provides structure, content and liability coverage for standard single-family homeowners, renters and condominium unit owners, through its subsidiary, Interboro Insurance Company. Personal residential products are offered in New York. Its commercial lines business primarily provides commercial multi-peril property insurance for residential condominium associations and apartments in Florida, through its subsidiary, American Coastal Insurance Company.
ACIC - American Coastal Insurance Corp
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