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Petrolimex to spend VND942 billion on dividend payment

The Saigon Times

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HCMC – Vietnam National Petroleum Group (Petrolimex), which trades its PLX shares on the Hochiminh Stock Exchange, plans to spend nearly VND942 billion paying dividends in 2022.

The country’s leading fuel trading firm will pay dividends in cash at 7%, equivalent to VND700 per share. The payment date is October 10.

With over 1.34 billion outstanding shares, Petrolimex is expected to spend nearly VND942 billion on the dividend payment plan.

Currently, the Commission for the Management of State Capital at Enterprises (CMSC) is the largest shareholder in Petrolimex with nearly 982 million shares, equivalent to a 75.87% stake. That means CMSC will receive around VND687 billion from Petrolimex.

In the first half of 2023, Petrolimex posted net revenue of nearly VND133.2 trillion, down by 12.4% versus the year-ago period. However, the after-tax profit of the company still reached over VND1.5 trillion, five times higher than in the same period last year.

Closing the trading session today, PLX inched down by 0.74% versus yesterday’s session to VND40,000 per share, with over one million shares changing hands.

Regarding the stock market, the strong selling pressure drove many stocks down today, September 14, leading to a steep fall of the VN-Index of the Hochiminh Stock Exchange.

At the close, the benchmark index lost 14.58 points, or 1.18%, from the session earlier, at 1,223.81 points, with decliners far outnumbering gainers by 409 to 99.

The trade volume totaled over 1.22 billion shares worth VND26.9 trillion, falling 3% in volume and 9% in value. Of the total, 67.5 million shares valued at VND1.74 trillion were traded in block deals.

Real estate stock VIC posted the steepest fall as it lost 6.3% to its daily low, at VND55,500, while its related stock VHM dropped by 6% at VND49,000 per share.

On the other hand, bank stocks VIB and CTG performed well today. VIB surged 3.3% to VND21,700, with a trading volume of 21.4 million shares, while CTG rose by 2% to VND33,200, with 14.9 million shares transacted.

On the Hanoi Stock Exchange, the HNX-Index fell 4.25 points, or 1.66%, at 251.86 points. Around 121.7 million shares worth over VND2.5 trillion were transacted.

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