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Sunday, July 21, 2024

Southern Basic Chemicals to pay hefty dividend

The Saigon Times

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HCMC – Southern Basic Chemicals JSC, which trades its CSV shares on the Hochiminh Stock Exchange, has announced to pay a hefty dividend of 175% for the financial year 2023.

The company will distribute a cash dividend of 25%, meaning shareholders will receive VND2,500 for each share held. The payment will be split into two: 10% on July 16 and 15% on October 7.

Besides, the company will issue 66.3 million bonus shares at a ratio of 100:150. This means shareholders will get 150 new shares for every 100 shares held.

The issue will be funded by share premium (over VND9.5 billion), other equity funds as of December 31, 2023 (VND11.95 billion), and the development investment fund (VND651 billion).

Its charter capital will increase from VND442 billion to VND1.1 trillion following the share issue.

In the first quarter of this year, the firm generated VND351.3 billion in revenue and VND49.7 billion in pre-tax profit, down by 10.3% and 30% over the same period last year, respectively.

For 2024, it looks to book VND1.6 trillion in consolidated revenue, up by 3% year-on-year. and VND261 billion in pre-tax profit, up by 13%.

Closing the trading session today, June 12, CSV inched up by 0.55% to VND72,600, with a trading volume of 894,500 shares.

Stocks advanced broadly on Wednesday, driven by gains in banking and technology stocks.

The VN-Index added 15.78 points, or 1.23%, to close at 1,300.19, with 313 winners and 124 losers.

Trading volume reached 895.3 million shares valued at VND23.27 trillion, down 9.87% in volume and 8.47% in value from the previous session. Block deals accounted for 125.36 million shares worth VND3.09 trillion.

The VN30 basket, which groups the 30 largest-cap stocks, saw 27 advancers and three decliners, helping the VN30-Index surge by 23.51 points, or 1.8%, to 1,331.81 points.

VPB, VCB and FPT were the top contributors, collectively adding more than six points to the main index.

VPB surged by 6% to VND19,400, with 69.93 million shares changing hands, the highest trading volume on the market.

The banking sector saw widespread gains. The strong recovery of bank stocks in the afternoon session, coupled with a positive performance of securities shares, helped lift the market. All bank stocks advanced today.

In the securities sector, VIX and SSI were the most active, with respective trading volumes of 50.53 million and 27.35 million shares. VIX closed up by 3.8%, and SSI rose by 2.2%.

Steel stocks also posted gains. HPG ended up by 1.7% to VND29,600 per share, and HSG added 1% to end at VND24,500.

On the Hanoi Stock Exchange, the HNX-Index gained 1.9 points, or 0.77%, to 248.31 points, with 102 stocks advancing and 71 others dipping. Trading volume totaled 76.68 million shares valued at VND1.57 trillion.

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