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Thursday, July 25, 2024

Lideco to pay 100% share dividend

The Saigon Times

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HCMC – Tu Liem Urban Development JSC (Lideco) has announced to pay a share dividend of a staggering 100%, with the record date set for July 7.

The company plans to issue 61 million bonus shares on a 1:1 ratio, meaning shareholders will get one new share for every share held.

The issue will use over VND956.8 billion from earnings retained as of December 31, 2023. This move will increase the total number of outstanding shares to 121.9 million, raising the company’s charter capital to nearly VND1.22 trillion.

On May 22, Lideco distributed a 25% cash dividend for 2023, or VND2,500 per share. With around 61 million outstanding shares, the total payment amounted to VND152.5 billion.

For 2024, Lideco looks to book revenue of VND750 billion and net profit of VND256 billion, down by 18% and 29% compared to 2023, respectively.

In the first quarter of this year, the company posted revenue of VND36.78 billion, down by 48.32% year-on-year. However, its profit after tax in this period rose by 20.92% to VND5.28 billion.

Closing the trading session today, June 25, its NTL shares inched up by 2.63% to VND46,750 per share, with a trading volume of 840,500.

With 238 winners and 161 losers, the VN-Index added 2.44 points, or 0.19%, to 1,256.56 points. Stock trade dropped by 33% in volume and 32% in value over the previous session, with 835.3 million shares totaling VND24.5 trillion changing hands. Block deals contributed 288 million shares valued at VND6.3 trillion to the overall value.

VRE soared to its ceiling price of VND21,300 per share. With 25.4 million shares traded, the highest volume on the Hochiminh Stock Exchange, it contributed nearly one point to the VN-Index.

Other blue-chip stocks saw minor gains. HDB, BCM and GVR rose between 1% and 2%. Conversely, SSB came under heavy selling pressure, dropping by 6.42% to VND21,150 per share with a trading volume of 3.71 million shares.

Several real estate, construction, logistics, service, and materials stocks posted notable gains. AGG increased by 4.9% to VND24,650, HDC rose by 4.8% to VND29,350, and VOS climbed by 4.6% to VND19,350.

HSG rose by 4.2% to VND25,000, with over 21.4 million shares traded, ranking second in the southern market in terms of liquidity.

On the Hanoi Stock Exchange, the HNX-Index added 0.45 points, or 0.19%, to 240.19 points. Trading volume totaled 45.9 million shares valued at VND878.5 billion. The session ended with 85 stocks gaining and 86 others dipping on the northern market.

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