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Vietnam Rubber Group to pay 3% dividend

The Saigon Times

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HCMC –  Vietnam Rubber Group (HOSE: GVR) plans to pay a 3% dividend for fiscal 2023, according to documents to be presented at the upcoming annual general meeting of shareholders.

The meeting, scheduled for June 17, will be held online, with shareholders joining to approve the proposed dividend payment plan among other agenda items.

This year, GVR aims to bolster technical management and exploitation efforts to meet or exceed annual targets. It will seek to increase revenue by maximizing factory capacities, reducing costs, and raising incomes for workers.

In its 2023 annual report, which was released on April 19, the firm looks to book revenue of VND25 trillion in 2024, up 1.2% over the previous year, and increase its net income by 2% to VND3.44 trillion.

Closing the trading session today, May 28, GVR edged up by 0.99% to VND35,600, with a matching volume of nearly 4.5 million shares.

On the southern bourse today, May 28, winners far outnumbered losers at 342 to 87, sending the benchmark VN-Index up 14.05 points, or 0.38% over the previous session, to 1,281.73 points.

Stock trade improved by 20% in volume and by 25% in value over the session earlier, with nearly 868.6 million shares valued at VND22.06 trillion changing hands. Block deals contributed 124.5 million shares worth VND2.9 trillion to the overall value.

Bluechips in the VN30 basket, which groups the 30 largest-cap stocks, were market drivers today. With 27 advancers and only one decliner, the VN30-Index jumped 14.87 points, or 1.16%, to 1,299.75 points.

Energy stock POW continued to take the lead by liquidity on the southern exchange, with a trading volume of 25.3 million shares.

Bank stocks performed well. LPB saw its price up to its daily ceiling of VND25,050 per share, and its trading volume totaled 14.5 million shares.

Other stocks in the sector, like SHB, MBB, ACB and HDB, inched up between 0.2% and 1.4%, with trading volumes ranging from six million to 14 million shares.

Stocks in the securities sector also made gains. VDS shot up to its upper limit of VND24,400, trading over four million units. Other stocks such as VND, VIX, SSI, and VCI also improved. VND was the second most actively traded stock on bourse with 24.8 million shares being matched.

The Hanoi Stock Exchange saw 120 stocks advancing and 57 others dipping, with 84.6 million shares valued at VND1.8 trillion changing hands. The HNX-Index added 2.75 points, or 1.13%, to 245.58 points.

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