30.6 C
Ho Chi Minh City
Thursday, July 25, 2024

Navico to pay stock dividend

The Saigon Times

Must read

HCMC – Nam Viet Corporation (Navico, HOSE: ANV) plans to issue 113.1 million bonus shares to pay a stock dividend at a 1:1 ratio.

Shareholders will get one new share for every share held. Funding for the dividend payment will come from Navico’s net profits that had not been distributed as of December 31, 2023, according to the company’s audited consolidated financial statements.

When this is done, its charter capital will double to VND2,667 billion, making the firm the largest tra fish exporter by charter capital on the Vietnamese stock exchange.

Data from Agromonitor, a Vietnamese company that provides market analysis and forecasts for agricultural commodities, showed that Navico’s export revenue in the first five months of the year totaled US$40 million, a 17% decline against the same period last year. The drop resulted from a 14% decrease in sales prices in U.S. dollar and a 4% decrease in volume.

Despite growth in the tra fish export sector, Navico’s primary market in China faces difficulties. Weak consumer demand in China has persisted, even as tilapia prices have risen above those of tra fish.

Navico looks to obtain VND5 trillion in revenue in all of 2024, increasing 13% over 2023,  with pre-tax profit expected to reach VND360 billion, a six-fold surge versus last year.

As of December 31, 2023, Navico’s undistributed profits stood at over VND1.5 trillion. The company plans to pay a 5% cash dividend in 2023, amounting to around VND67 billion.

Closing the trading session today, July 9, its ANV shares rose by 3.83% to VND35,250, with a trading volume of nearly 5.8 million shares.

Vietnam’s stock market closed higher today, with the VN-Index inching up 0.79%, or 10.15 points, to 1,293.71 points.

Stock trade improved by 7% in volume and 10% in value over the previous session, with 821.8 million shares worth over VND21.8 trillion changing hands. Block deals contributed 64.4 million shares valued at VND1.6 trillion to the overall value.

Bluechips within the VN30 basket, which groups the 30 largest-cap stocks, were the main drivers on the southern stock exchange, with 25 advancers and five decliners. The VN30-Index gained 5.95 points, or 0.45%, to 1,321.78 points.

GVR rose the highest among them with a 4.1% increase, closing at VND38,000. HDB increased by 3.5% to VND25,250, and BCM rose by 3.3% to VND66,700.

Bank stocks showed mixed results. TCB fell slightly, while other major banks closed higher. HDB surged 3.48%, while VCB, BID, VIB, and VPB advanced between 1% and over 2%. VPB was the most actively traded stock on the southern exchange, with more than 32 million shares changing hands.

On the Hanoi Stock Exchange, 105 stocks advanced and 64 others dipped, pushing the HNX-Index up 1.03%, or 2.51 points, to 245.66 points. Trading volume on the northern bourse exceeded 66.7 million shares valued at VND1.5 trillion.

More articles


Please enter your comment!
Please enter your name here

Latest articles