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DVP to pay 25% cash dividend

The Saigon Times

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HCMC – Dinh Vu Port Investment and Development JSC (HOSE: DVP) has decided to pay a 25% cash dividend in the first tranche for fiscal 2023, with December 19 set as the record date.

Existing shareholders will get VND2,500 for every share held. With 40 million shares traded on the market, DVP will spend around VND100 billion on the dividend payment, which is scheduled to take place on January 12, 2024.

This year, DVP has adjusted its dividend policy, opting for a 50% cash dividend. This marks a reduction from the 60% payout ratio observed in 2022.

The company looks to obtain VND716.2 billion in revenue and VND360 billion in pre-tax profit this year.

According to the firm’s third-quarter earnings report, revenue from July to September stood at VND143.52 billion, a 1.8% decline over the same period in 2022. Its pre-tax profit dropped by around 40% year-on-year to VND64.2 billion.

In the year to September, the company had reported a 9.09% drop in revenue, totaling VND405 billion, yet its profit after tax rose 19.3% year-on-year to VND273.9 billion.

After three quarters, the firm achieved 56.5% of its annual revenue target but 90.9% of its annual profit goal.

Closing the trading session today, November 28, DVP inched up 1.65% over the previous session to VND61,500 per share.

With 290 winners and 210 losers, the VN-Index of the Hochiminh Stock Exchange added 7.37 points, or 0.68%, to 1,095.43 points.

Trading volume totaled 681.9 million shares worth VND14 trillion, up 15% in volume and 19% in value versus the earlier session. Block deals contributed VND2 trillion to the overall value, with 88.6 million shares changing hands.

Securities stock VIX took the lead by liquidity with 35.5 million shares being traded. It gained 0.9% to close at VND16,250 per share.

The Hanoi Stock Exchange saw 84 stocks advancing and 68 others dipping. The HNX-Index improved 0.22%, or 0.5 points, to 224.39 points. There were 77.8 million shares valued at VND1.4 trillion traded on the northern bourse.

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