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Saturday, May 18, 2024

Hoa Sen to pay 5% cash dividend

The Saigon Times

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HCMC – Hoa Sen Corporation, which trades its HSG shares on the Hochiminh Stock Exchange, has decided to pay a 5% cash dividend for the fiscal year 2022-2023, with April 24 set as the record date.

Existing shareholders will get VND500 for every share held. With 616 million shares traded on the market, the steel manufacturer will spend around VND308 billion on the dividend payment, which is scheduled to take place on May 10, 2024.

In another development, Hoa Sen Group has relieved Tran Quoc Tri of his roles as general director and legal representative. Vu Van Thanh has been picked as new general director and legal representative of the firm.

Between October and December, the steelmaker generated revenue of over VND9 trillion, up by 14.6% year-on-year, and net profit of VND103.36 billion. Its gross profit margin improved from 2% to 10.5%, contributing significantly to the company’s return to profitability.

Closing the trading session today, April 14, HSG dipped by 3.61%, the sharpest fall among steel stocks, to VND20,000, with a trading volume of nearly 7.3 million shares.

With 137 advancers and 348  decliners, the VN-Index of the Hochiminh Stock Exchange dropped by 22.67 points, or 1.86% against Tuesday, to close at 1,193.01 points.

The trading volume plummeted by 36.6% over the session earlier, but the value surged by 37%, with 859.3 million shares worth VND19.1 trillion changing hands. Block deals contributed 93 million shares valued at around VND2.1 trillion.

Bank and securities shares were the main drags on the local stock market, as only three lenders – LPB, OCB, and SSB – edged up while all securities stocks declined.

LPB rose the highest among them with a gain of 3.34%. Lender BID fell the steepest with a decrease of 4.37%. Regarding securities stocks, FTS plunged to its daily floor price, while many others lost over 5%.

SHB emerged as the most actively traded stock with a volume of 32.44 million shares, closely followed by VIX with a volume of 32.3 million shares. They inched down by 3.48% and 4.76% over the previous session, respectively.

Meanwhile, on the Hanoi Stock Exchange, the HNX-Index lost 2.63 points, or 1.15%, to 226.2 points, with 73 winners and 98 losers.

The trading volume on the northern market reached 86.7 million shares valued at VND1.7 trillion.

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