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Monday, June 17, 2024

MBS to issue 57 million shares to pay 15% dividend

The Saigon Times

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HCMC – MB Securities JSC, which trades its MBS shares on the Hanoi Stock Exchange, has announced a plan to issue over 57 million shares to pay a 15% dividend.

The company’s existing shareholders will get 12 new shares for every 100 shares held, coupled with a bonus share allocation of 3%, meaning they will get three additional shares for every 100 shares held.

Funding for the dividends will come from undistributed after-tax profit and its reserve fund, including a reserve fund for supplementing charter capital, according to its audited financial statements.

After that is done, the company’s chartered capital would increase to VND4.38 trillion from VND3.8 trillion. The ex-dividend date is August 10.

Regarding its business performance, MBS reported a 22% decrease in revenue in the second quarter compared to the same period last year, reaching VND401 billion.

Its net profit edged up a slight 3% in the quarter to over VND123 billion, but it dropped 24% year-on-year to VND245 billion in the first half of the year.

MBS looks to obtain VND2.7 trillion in revenue and VND900 billion in pre-tax profit this year, a respective year-on-year increase of 37% and 36%.

The company has achieved VND307 billion in pre-tax profit in the year to date, fulfilling more than one-third of its annual profit plan.

MBS’s total assets as of late June had totaled over VND10.7 trillion, almost unchanged from January. Its outstanding loan balance surged by 42% to VND5.3 trillion.

On the stock market, MBS shares gained 2.42% to VND21,200 per share, with a trading volume of 3.7 million shares today, August 7. This surge marks the highest value level in the past 15 months, and the share has appreciated by around 60% over the last four months.

The Hochiminh Stock Exchange closed on a positive note, with the VN-Index surging by 15.44 points, or 1.26%, to reach 1,241.42 points, with winners outnumbering losers by 342 to 129.

The trading volume amounted to nearly 1.3 billion shares, valued at VND26.5 trillion, a 15% increase in volume and 14.89% in value compared to the previous session. Block deal transactions totaled 181.25 million units worth VND4.5 trillion.

The banking sector remained the driving force behind the market, as all but one bank stock, ACB, staged a strong performance. CTG showed a notable performance, closing the session with a 5.16% increase at VND32,600 per share.

However, LPB, STB, and SSB shares shone brightly in the banking sector. STB surged 3.8% with 49.46 million shares and LPB shot up to its daily upper limit of VND18,450 per share, with 20.3 million shares matched.

SSB advanced 4.3% to VND30,250 per share, with a total trading volume of over 1.5 million shares.

Other sectors, particularly real estate, showed positive developments in mid-cap and small-cap segments, but VHM, VCG, HDB, DXG, DIG, and NLG ended down.

In contrast, HPX remained vibrant with a trading volume of nearly 20 million shares, edging up 0.7% to VND27,550 per share. TCH also performed well, surging to its daily limit with a trading volume of over 22.2 million shares.

HQC closed up 4.1% at VND5,100 per share and took the lead by liquidity on the southern market, with over 56 million shares changing hands.

Meanwhile, the Hanoi Stock Exchange (HNX) maintained solid upward momentum throughout the afternoon session, bolstered by active cash flow.

The HNX saw 126 advancers and 63 decliners, with the HNX-Index rising by 3.27 points, up 1.35% from the session earlier, to 245.68 points.

The total trading volume on the northern exchange amounted to over 120 million shares valued at more than VND1.9 trillion.

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