Just enough to complete the yearly plan, Coteccons (CTD) wants to pay cash dividends at a rate of 10%

Coteccons pays cash dividend at 10% rate

Construction industry giant, Coteccons Construction JSC (Code: CTD) has just submitted a proposal on the decision to pay dividends for the 2023-2024 fiscal year.

In particular, CTD plans to pay cash dividends at a rate of 10%, equivalent to each shareholder owning 1 share will receive 1,000 VND in dividends. With this dividend payment plan, CTD is expected to have to spend about 99.93 billion VND to pay dividends to existing shareholders.

Coteccons (CTD) profit increased 4 times but still only enough to complete the yearly plan. The company plans to pay a 10% dividend in cash (Photo TL)

In addition, Coteccons also plans to add a plan to issue bonus shares to shareholders at a ratio of 20:1. Accordingly, each shareholder owning 20 shares will receive 1 additional issued share. It is expected that Coteccons will have to issue nearly 5 million new shares.

If the issuance plan is successful, Coteccons will increase its total charter capital from VND1,036 billion to VND1,086 billion.

Regarding the plan to issue ESOP shares to employees in the company, Coteccons also plans to use 1.5 million shares out of more than 3 million treasury shares to issue to employees with a par value of VND 10,000/share.

Profit increased 4 times but still just enough to complete the year plan

Regarding business activities, in the 2023-2024 fiscal year (from July 1, 2023 to June 30, 2024), Coteccons recorded net revenue of VND 21,045 billion, an increase of 31% over the previous fiscal year. Profit after tax reached VND 299 billion, an increase of 343% over the same period.

Compared to the business target of the 2023-2024 fiscal year, Coteccons has completed 105% of the revenue target and 104% of the annual profit result. This is the target level that the company has adjusted since April 2024.

Entering 2025, Coteccons plans to set a revenue target of VND25,000 billion, with a target profit after tax of VND430 billion, an increase of 39% compared to last year. If Coteccons continues to complete the plan for this new fiscal year, the company will achieve the highest business results since 2019.

In the trading session on October 14, 2024, Coteccons' CTD shares increased to VND 64,000/share, up 25.4% over the previous year.

Source: https://www.congluan.vn/chi-vua-du-hoan-thanh-ke-hoach-nam-coteccons-ctd-muon-tra-co-tuc-tien-mat-ty-le-10-post316706.html