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Wednesday, June 19, 2024

Petrolimex to pay 15% cash dividend for 2023

The Saigon Times

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HCMC – Vietnam National Petroleum Group (Petrolimex), which trades its PLX shares on the Hochiminh Stock Exchange, is planning to pay a 15% cash dividend for 2023, equivalent to VND1,500 per share.

The country’s leading fuel trading firm will finalize the list of shareholders eligible for the dividend on May 15, with the payment date expected to be May 28.

With over 1.27 billion outstanding shares, Petrolimex is expected to spend around VND1.9 trillion paying the dividend for its existing shareholders.

Owning nearly 982 million PLX shares, the Commission for the Management of State Capital at Enterprises will receive around VND1.5 trillion in dividend.

Recently, Petrolimex announced its earnings results in the first quarter of 2024, with net revenue rising by 11% year-on-year to VND75,106 billion and after-tax profit skyrocketing by 70% to VND1,133 billion.

The robust increase in after-tax profit in Q1 is credited to efficient petroleum business operations, positive performance across other sectors, stable global fuel prices, and a consistent domestic supply of petroleum from oil refineries.

Closing the trading session today, May 9, PLX grew by 0.5% day-on-day to VND40,200 per share, with a trading volume of over 2.1 million shares.

The southern market saw 201 stocks rising and 241 others falling, with the VN-Index losing 1.82 points, or 0.15%, against yesterday’s session, at 1,248.64 points.

There were over 771.5 million shares worth VND20.1 trillion changing hands on bourse, down 21% in volume and 13% in value. Block deals contributed VND3.5 trillion to the overall value, witnessing more than 132.7 million shares transacted.

BCM stole the spotlight in the VN30 basket as it surged by 6.42% to VND58,000 per share, followed by lender TBP with an increase of 2.2%.

Real estate developer NVL took the lead by liquidity in the market, with more than 24.7 million shares traded on bourse. It rose by 1.1% to VND13,750.

On the northern exchange, the HNX-Index inched up by 0.07 point, or 0.03%, at 234.58 points, with 76 winners and 89 losers. The total trading volume reached more than 81.5 million shares worth VND1.55 trillion.

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