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Binh Minh Plastics to pay 65% cash dividend

The Saigon Times

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HCMC – Binh Minh Plastics Joint Stock Company, which trades its BMP shares on the Hochiminh Stock Exchange, has announced a decision to advance a 65% cash dividend for 2023, equivalent to VND6,500 per share.

With over 81.86 million outstanding shares, Binh Minh Plastics is expected to spend around VND532 billion paying the interim dividend for its existing shareholders. The payment is scheduled to be made in December this year.

Nawaplastic Industries Co., Ltd. is currently the parent company of BMP, owning more than 45 million BMP shares, equivalent to 54.99% of the capital. It will receive more than VND293 billion in dividend from BMP.

Previously, Binh Minh Plastics announced its June-September business results with net revenue standing at VND926 billion, 38% lower than in the same period last year.

However, thanks to a significant reduction in input costs and other expenses, BMP’s after-tax profit reached VND209 billion, increasing by 19% versus the year-ago period.

In the first nine months of 2023, Binh Minh Plastics generated VND3.7 trillion in net revenue, a 16% year-on-year decrease. Its after-tax profit hit VND784 billion, surging by 75% compared to the same period and surpassing the full-year profit target by 20%.

Closing the trading session today, November 3, BMP soared by 2.92% to VND88,000 per share, with around 284,300 shares changing hands.

On the southern bourse, the VN-Index added 1.31 points, or 0.12%, against yesterday’s session, at 1,076.78 with 253 winners and 280 losers.

Trade volume totaled over 756.4 million shares worth VND15.4 trillion, slightly down 2% in volume but up 5.28% in value. Block deals contributed over VND1,087 billion to the total value.

Having nearly 8.1 million shares matched on the southern bourse, lender TCB surged by 5.6% day-on-day to reach VND31,000 per share.

Thanks to its remarkable performance, TCB stood out as the main market driver today, adding over 1.51 points to the overall index. Retailer MWG rose by 5.27% to VND38,950 per share, with over 12 million shares transacted.

Meanwhile, VIX took the lead by liquidity with 39.67 million shares changing hands today.

On the northern bourse, the HNX-Index lost 0.22 points, or 0.1%, against yesterday’s session, at 217.75 points, with 80 advancers and 86 decliners. The total trading volume reached 91.36 million shares, with a value of over VND1.5 trillion.

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