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Hung Thinh Incons delays dividend payment again

The Saigon Times

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HCMC – Hung Thinh Incons JSC (HTN) will delay the 2021 dividend payment until 2024, according to the firm’s recent announcement.

The decision aims to secure enough cash for the firm’s business operations, so the new payment date is July 1, 2024, it said.

This is the third time HTN has revised its dividend payment plan. November 25 last year was the due date for the 2021 dividend payment, but it was moved to December 5, 2022, and February 28, 2023.

The dividend would be paid in cash at 12%, meaning shareholders would receive VND1,200 for every share held.

In 2022, HTN posted VND5,465 billion in net revenue and VND88 billion in profit after tax, plunging 11% and 63% over the year-ago period. Its total assets had amounted to VND9,053 billion as of late December 2022, up 18% against the start of the year.

Closing the trading session today, February 27, TNH inched down 2.44%, or VND300, against the session earlier to VND12,000.

Strong selling pressure sent the benchmark VN-Index of the Hochiminh Stock Exchange down 18.31 points, or 1.76% over the earlier session, to 1,021.25, with 66 advancers and 371 decliners.

Trade on the southern bourse soared by 36.76% in volume and 42.49% in value versus the session earlier at 588.6 million shares valued at over VND9.3 trillion, with nearly 74.7 million shares traded in block deals contributing about VND1.6 trillion to the overall value.

In the VN30 basket, the picture was somber as 28 stocks declined while only two made gains, making the VN30-Index lose 18.96 points.

Stocks of the seafood sector faced the steepest fall today, with ABT and ANV dipping to their lower limits, while IDI, VHCC, ACL and CMX dropped 6.4%, 6%, 4% and 3.6%, respectively.

Steel stocks continued taking the lead by liquidity, with 31.1 million HPG stocks and nearly 20.4 million HSG stocks of local steelmaker Hoa Phat Group and Hoa Sen Group changing hands.

The Hanoi Stock Exchange saw 44 winners and 122 losers, making the HNX-Index lose 4.06 points, or 1.96%, to 203.27.

Over 67.3 million shares valued at nearly VND944.5 billion were traded on the northern bourse, of which 2.35 million shares worth over VND67.7 billion were transacted in put-through deals.

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