KIDO Group Corporation (KDC) has just announced its decision to pay a special cash dividend for 2022 at a rate of 10%. The last registration date is January 12, 2024. The expected payment date is January 22, 2024.

With more than 267 million shares in circulation, KDC is expected to spend more than VND 267 billion on this dividend payment.

Previously, in early September 2022, KDC paid 2022 cash dividends at a rate of 6% (VND 600/share).

At the same time, KDC also approved a plan to use treasury shares to distribute to existing shareholders. Specifically, KDC plans to issue 22.5 million shares with a par value of VND10,000/share at a rate of 8.42%. The total estimated value is VND225 billion.

Existing shareholders whose names are on the list on the last registration date are entitled to exercise the right 100:8.42 and are not allowed to transfer, and can only be transferred after the division.

According to KDC, the capital source for stock dividends comes from treasury stocks, the company has used the capital source of equity surplus as of December 31, 2022. However, the implementation time is in the first quarter of 2024, after approval from the State Securities Commission.

Thus, the total cash and stock payment this time by KDC will be nearly 500 billion VND.

At the end of the third quarter of 2023, KDC's net revenue reached VND 2,355 billion, down 28% over the same period; profit after tax reached nearly VND 82 billion, 2.7 times higher than the same period in 2022.

In the first 9 months of the year, KDC achieved net revenue of VND 6,861 billion, down nearly 30% over the same period; profit after tax reached VND 646.5 billion, 1.75 times higher than the same period in 2022.

Regarding development strategy, in 2023, the food industry giant KDC has many big goals. Notably, KDC is expanding into the fish sauce and seasoning powder market, aiming to consolidate its position in the essential food sector.

Not only that, in October, KDC officially increased its ownership ratio in Tho Phat International JSC (Tho Phat dumplings) from 25% to 68%. At the same time, KDC set a goal of making Tho Phat a "National Kitchen", meeting the diverse needs of consumers and exporting to at least 30 countries around the world.

At the end of the trading session on December 28, KDC shares reached 63,000 VND/share.

Business News

The stock market has a number of other important events of listed companies.

* VFG: On December 27, Vietnam Disinfection JSC received a tax penalty decision of VND 3.1 billion from the General Department of Taxation due to false declaration leading to a shortage of tax payable.

* PHS: On December 27, the Board of Directors of Phu Hung Securities Corporation approved the 2024 business plan. PHS expects to achieve VND 745 billion in revenue, an increase of 33% compared to the estimated results in 2023; pre-tax and after-tax profits are expected to be VND 132 billion and nearly VND 101 billion, respectively, doubling that of 2023.

* DRG: On December 26, the Board of Directors of Dak Lak Rubber Joint Stock Company (Dakruco) approved a resolution that its subsidiary in Cambodia will transfer 385,000 USD to Vietnam. Of which, 350,000 USD will be an advance payment of 2023 profits to DRG and 35,000 USD will be a transfer fee from Cambodia to Vietnam. The transaction will be completed before January 31, 2024.

* PBT: Petroleum Housing and Trading Joint Stock Company has just received a decision to fine nearly 8 million VND from the Quang Ngai Provincial Tax Department, equivalent to 20% of the 2021 corporate income tax incorrectly declared, leading to a shortfall of nearly 40 million VND in tax payable.

* BCM: Mr. Nguyen Van Hung, Chairman of the Board of Directors of Industrial Investment and Development Corporation, has completed the purchase of 70,000 BCM shares, increasing his ownership to 6.2 million shares (0.6%). The transaction took place from November 30 to December 25.

* STG: Indo Tran Logistics and Transport JSC - the parent company of Southern Logistics JSC has divested more than 4.6 million STG shares, thereby reducing ownership from 74% to 69.3%.

* DNH: Da Nhim - Ham Thuan - Da Mi Hydropower Joint Stock Company is about to spend nearly 169 billion VND to pay the second cash dividend of 2023. The record date is January 9, 2024.

* SGB: The State Bank approved the increase in charter capital in 2023 of Saigon Joint Stock Commercial Bank for Industry and Trade (Saigonbank), by VND 308 billion, to VND 3,388 billion through paying stock dividends at a rate of 10%.

* TMP: Thac Mo Hydropower JSC has just announced the provisional dividend payment for the 3rd period of 2023 at a rate of 38.83% in cash. The last date of registration for closing the shareholder list is January 22, 2024, the expected dividend payment date is March 29, 2024.

VN-Index

At the end of the trading session on December 28, VN-Index increased by 6.94 points (+0.62%) to 1,128.93 points, HNX-Index increased by 0.75 points (+0.33%) to 231.35 points, UpCOM-Index increased by 0.51 points (+0.59%), to 86.97 points.

Commenting on today's market, KBSV Securities said that the index is still moving at the old peak of 1,130, which has been tested twice before. It is likely that VN-Index will soon face great correction pressure around the lower limit of the resistance zone of 1,150 (+-15).

Investors are advised to avoid chasing buys during early recoveries, and can consider selling off open positions at 1,150 (+-15), and only reopen buys when the index reaches 1,085 (+-15).

According to Yuanta Securities, the market may continue to experience fluctuations in the next session when the VN-Index faces the resistance level of 1,131 points. At the same time, the general market is still in a short-term accumulation phase and stock groups are diverging, in which large-cap stocks are showing clearer developments and are leading the market trend in the short term.

In addition, the sharp increase in short-term sentiment indicators shows that investors continue to be more optimistic about the current market developments. Therefore, short-term investors can take advantage of the correction to increase their proportion.

Real estate tycoon, bank owner buys more shares Mr. Luong Tri Thin, Chairman of Dat Xanh wants to buy 17.5 million more Dat Xanh shares. Ms. Nguyen Thi Nga, Vice Chairman of SeABank, registered to buy 5 million SSB shares.