HCMC – IDICO Corporation JSC, whose IDC shares are traded on the Hanoi Stock Exchange, will issue 49.5 million shares as a 15% stock dividend for 2024, even as revenue and profit fell sharply in the first half of the year.
IDC will finalize its shareholders list on August 15. Shareholders will get 15 new shares for every 100 held, with fractional shares cancelled.
The share issue, valued at about VND495 billion at par, will be funded from undistributed after-tax profit based on the audited 2024 statements.
The company has already paid two cash dividends for 2024, totaling 20% of par value, or about VND660 billion. If the share issue is completed, IDC would meet its full-year dividend plan of 35%.
The firm’s second-quarter net revenue fell 17.9% year-on-year to VND1.76 trillion, while its after-tax profit dropped 28.8% to VND416 billion. Its first-half revenue declined 22.9% to VND3.56 trillion, and its profit plunged 39.7% to VND833 billion.
IDC eyes full-year revenue of VND8.92 trillion and pre-tax profit of VND2.6 trillion. It achieved VND1.04 trillion in pre-tax profit in the first half, or 40% of its goal.
Closing the trading session today, August 6, IDC edged up 1.11% to VND45,400, with a trading volume of nearly 1.9 million shares.
Vietnam’s benchmark VN-Index rose 26.56 points, or 1.72%, to close at 1,573.71, with 247 stocks advancing and 78 others declining.
Trading volume and value plunged around 50% over the previous session, with 1.37 billion shares worth VND38.91 trillion changing hands. Block deals accounted for 57 million shares valued at VND1.6 trillion.
Banks were the main drivers, contributing about nine points to the index. STB rose 4.64% to VND54,100, leading the VN30 basket, which groups the 30 largest-cap stocks. TCB, ACB and MBB gained more than 3% each. BID and VCB added 1.94% and 1.3%, respectively.
Securities stocks also advanced, with VIX up 6.34% to VND28,500 and HCM 4.71% to VND27,800. EVF hit its ceiling at VND14,450 with 36.85 million shares traded.
Steelmakers mostly rose. SMC closed at its daily ceiling of VND13,350, while HPG added 2.65% to VND27,100, taking the lead by liquidity with 96.17 million shares traded.
Large-cap property developers VHM and VIC rose 1.56% and 0.85%, respectively. VRE fell 2.75% and FPT lost 0.85%, the only two decliners in the VN30 basket.
The VN30-Index outperformed the main index, adding 32.88 points, or 1.95%, to 1,723.31. Nine of the 10 most actively traded stocks on the southern exchange were from the financial sector.
On the Hanoi Stock Exchange, the HNX-Index increased 2.54 points, or 0.95%, to 268.66 points, with 117 winners and 52 losers. Trading volume and value in this exchange were also halved compared to the previous session, with 134 million shares worth VND2.86 trillion changing hands.
