HCMC – Pharmedic Pharmaceutical Medicinal JSC, which trades PMC shares on the Hanoi Stock Exchange, has announced to pay a 109% cash dividend for 2024 in two tranches.
In the first tranche, PMC will distribute a 55% dividend, meaning shareholders will get VND5,500 for each share held. The record date for this tranche is December 13, with payment set for December 25.
The list of shareholders eligible for a second 54% tranche will be finalized on February 19, 2025, with payment made on February 25.
At an extraordinary meeting of shareholders on November 6, PMC’s board of directors said the dividend would be funded through a reallocation of nearly VND102 billion from its investment fund to retained earnings. This reallocation is based on a review of the company’s fund balances as of June 30.
The dividend is separate from an additional 24% payout from the company’s 2024 net profit, which was previously approved.
In recent years, PMC has maintained high dividend rates, having paid a 126% cash dividend in 2023.
For the third quarter of 2024, PMC posted VND123 billion in revenue, down by 16% from a year earlier. Net profit rose by 4% to over VND21 billion, aided by a 25% drop in cost of goods sold.
In the first nine months of 2024, PMC’s revenue totaled VND361 billion, with net profit of VND60 billion, marking year-over-year increases of 2% and 3%, respectively. The company has achieved 83% of its annual profit target.
Looking to 2025, PMC looks to obtain revenue of VND545 VND and pre-tax profit of VND103 billion, or 11% and 13% higher than its 2024 targets.
Closing the trading session today, November 12, PMC edged up by 1.85% over the previous session to VND104,500 per share.
The VN-Index fell 5.5 points, or 0.44%, to 1,244.82 at the close on Monday, as bluechips weighed on the market. There were 120 winners and 236 losers on the Hochiminh Stock Exchange.
Trading volume on the southern exchange reached more than 600 million shares, valued at VND14.22 trillion, up by 8% in volume and 2% in value versus the previous session. Block deals accounted for over 84.3 million shares valued at VND1.69 trillion.
In the VN30 basket, which groups the 30 largest-cap stocks, 20 stocks dipped and five others advanced, with MWG leading the decline, dropping by 3.5% to VND60,800. The VN30-Index shed 8.51 points, or 0.65%, to 1,301.95 points.
Other large-cap stocks, including FPT, BVH, CTG, MSN and GVR, fell between 1.1% and 1.5%. On the upside, SAB rose by 2.4% to VND56,600, while PLX, BCM, VIB, and HDB posted small gains of around 0.5%.
Mid- and small-cap stocks were more active in afternoon trading. VTP hit its ceiling price of VND113,400, with over 1.77 million shares traded. HAG also soared to its daily upper limit of VND11,200 and took the lead by liquidity with a trading volume of more than 26.3 million shares.
On the Hanoi Stock Exchange, the HNX-Index closed down 0.17 points, or 0.08%, at 226.69 points, with 64 gainers and 83 decliners. Stock trade on the northern market totaled 38.5 million shares valued at VND739.9 billion.
