Phu My Fertilizer is about to spend 783 billion VND to pay dividends in 2023, rate of 20%

Phu My Fertilizer is about to spend 783 billion VND to pay dividends in 2023, rate of 20%

Phu My Fertilizer's cash dividend will be paid on September 24.

PetroVietnam Fertilizer and Chemicals Corporation - JSC pays cash dividends in 2023

According to information from PetroVietnam Fertilizer and Chemicals Corporation (Phu My Fertilizer, code DPM - HoSE), August 22 will be the last registration date for this unit to close the right to receive 2023 dividends for shareholders, at a rate of 20% (VND 2,000/share) entirely in cash . Thus, the ex-dividend date is August 21. Dividends will be paid on September 24.

With 391.3 million shares in circulation, the fertilizer giant will pay a total of VND782.6 billion. According to the plan submitted and approved at the annual shareholders' meeting, Phu My Fertilizer's dividend rate in 2023 is 20%, much lower than the 70% in 2022 that was paid last year.

On the stock market, DPM's stock price closed on August 9 at VND 35,750/share, up 7% compared to the beginning of 2024. The market capitalization is currently approximately VND 14,100 billion.

DPM stock price movement from the beginning of the year until now

According to the financial report for the second quarter of 2024, the net revenue of this unit reached nearly 3,950 billion VND, an increase of 6% over the same period last year. Profit after tax of the parent company's shareholders skyrocketed by 129% to 231 billion VND. Accumulated in the first half of 2024, net revenue reached 7,255 billion VND, an increase of 4% over the first half of 2023. Net profit reached 495 billion VND, an increase of 37% over the same period. Compared to the plan of profit after tax of 542 billion VND, the company has completed more than 91% of the set target.

The company's leaders said that the production output of all products in the first 6 months of 2024 was approximately equal to or exceeded the 6-month plan. Phu My Urea production output reached 448,204 tons, reaching 106% of the first 6-month plan and 53% of the 2024 plan, up 17% over the same period in 2023. In general, the fertilizer market is fiercely competitive. However, according to the company's leaders, Phu My Fertilizer has implemented a drastic business plan early, completely changing the sales policy compared to 2023 and supported by high agricultural prices and Vietnam's planned agricultural market tends to expand, so the total fertilizer business output reached 106% of the first 6-month plan, the total chemical business output reached 108% of the first 6-month plan.

As of June 30, DPM's total assets reached more than VND 15,739 billion, up 18% compared to the beginning of the year. Cash and bank deposits reached more than VND 9,700 billion, accounting for nearly 62% of total assets, up 46% compared to the beginning of the year. Not only is there a large amount of cash available, in the capital structure, undistributed after-tax profits at Phu My Fertilizer are also contributing a large proportion with a value of VND 3,268 billion as of December 31, 2023.

Source: https://baodautu.vn/dam-phu-my-sap-chi-783-ty-dong-tra-co-tuc-nam-2023-ty-le-20-d222207.html