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Wednesday, June 19, 2024

Binh Minh Plastics JSC to pay 53% cash dividend

The Saigon Times

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HCMC – Binh Minh Plastic Joint Stock Company, which trades its BMP shares on HOSE, has announced a decision to pay the remaining dividend in cash at 53%, equivalent to VND5,300 per share.

Binh Minh Plastic JSC will spend more than VND433.86 billion for the dividend payment to shareholders on June 10 this year.

The company made the first dividend payment for 2022 at a ratio of 31% in cash in early December 2022. Therefore, the total dividend payout for 2022 by Binh Minh Plastic JSC is 84% in cash, much higher than the ratio of 26% in the previous year.

As for its business performance, BMP made some VND5.8 trillion in revenue in 2022, up 27.6%, and VND694 billion in after-tax profit, skyrocketing 225% year-on-year.

The company looks to obtain revenue of VND6,357 billion in 2023, up 9.1%, and after-tax profit of an estimated VND651 billion, down 6.2% compared to the previous year.

According to the first-quarter financial report, BMP recorded net revenue of VND1,440 billion, up by 7% year-on-year. The company’s after-tax profit also surged by 120% to VND281 billion, breaking the previous record set in quarter four.

With positive business results in the first quarter, BMP has achieved 23% of its annual revenue target and 43% of its profit target.

Its stock BMP advanced nearly 40% in April. However, it closed the trading session today, May 5, down 1.09% to VND81,500 per share.

Regarding the stock market today, the benchmark VN-Index of the Hochiminh Stock Exchange slid 0.3 point, or 0.03%, against the previous session, at 1,040.31, with decliners outnumbering advancers by 223 to 154.

Trade on the southern bourse decreased over 12.47% in volume and over 11.37% in value over the session earlier at 547.78 billion shares and more than VND9.3 trillion, including about VND2.4 trillion worth of shares traded in block deals.

MSN and VCB made the biggest contribution to keeping the VN-Index at the threshold of 1,040 points. Specifically, MSN rose 3.4% to VND73,000, while VCB climbed 1.5% to VND89,800.

Small and mid-cap stocks still attracted cash flow. VIX rose 3.5% to VND8,790 with the highest liquidity in the market, reaching over 24.15 million shares traded.

The HNX-Index of the Hanoi Stock Exchange decreased 0.35 point, or 0.17%, to 207.8 points, with 74 winners and 94 losers.

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