This is the second time in 2023 that Vicostone has paid dividends. In June, Vicostone paid the first interim dividend of 2023 in cash at a rate of 20%, equivalent to VND 320 billion.
At the 2023 Annual General Meeting of Shareholders, Vicostone approved a plan to pay a minimum dividend of 20% in 2023. Thus, Vicostone doubled its target of 40%, equivalent to VND640 billion.
Regarding shareholder structure, according to the management report for the first 6 months of 2023, Mr. Ho Xuan Nang, Chairman of the Board of Directors, is holding nearly 6 million shares, accounting for 3.74%.
In particular, Phoenix Green Group Joint Stock Company (Phenikaa), a business of Mr. Nang's family, is holding more than 134.6 million shares, accounting for 84.15% of charter capital.
In total, Mr. Nang and Phenika hold more than 140 million shares, equivalent to 87.9%. After two dividend payments, Mr. Nang's family received 562 billion VND.
Regarding business performance, at the end of the third quarter of 2023, Vicostone's revenue reached VND 1,028 billion, down 6% year-on-year. As a result, Vicostone's after-tax profit decreased by about 3% year-on-year, reaching only VND 195 billion.
In the first 9 months of the year, Vicostone's revenue reached VND3,200 billion and pre-tax profit VND718 billion, down 28% and 36% respectively compared to the same period last year. Net profit was VND609 billion, down 35% compared to the first 9 months of last year.
With the above results, the company has only achieved 68% of the year's profit plan.
On the market, at the close of trading on November 29, VCS shares reached 57,500 VND/share.
Business News
The stock market has a number of other important events of listed companies.
*FDC : Ho Chi Minh City Foreign Trade and Investment Development Corporation (Fideco) decided to postpone the extraordinary shareholders' meeting scheduled to take place on December 1.
* CTS : The Board of Directors of Vietnam Joint Stock Commercial Bank for Industry and Trade Securities Corporation approved a resolution on short-term borrowing from Saigon VRG Investment Corporation of up to VND 2,000 billion.
* SIP: Saigon VRG Investment JSC announced the closing of the list of shareholders to receive cash dividends for the first period of 2023 on December 8. The ex-rights transaction date is December 7.
* NTH: Water Hydropower Joint Stock Company will announce on December 25 that the list of shareholders receiving the second interim dividend of 2023 in cash will be finalized. The ex-dividend date is December 22.
* WSB: Saigon - Western Beer JSC announced that December 4 is the ex-dividend date to receive the first cash dividend payment of 2023, at a rate of 10%.
* NLG: Nam Long Group announced that sales increased sharply again in the third quarter, reaching 1,769 billion VND. In October and November alone, sales continued to skyrocket, recording more than 3,038 billion VND by the end of November.
* HAG: Hoang Anh Gia Lai Group has paid off 200 billion VND of principal debt of bonds with code HAGLBOND16.26. This amount comes from debt collection of Hoang Anh Gia Lai International Agriculture JSC.
VN-Index
At the end of the trading session on November 29, VN-Index increased by 7.37 points (+0.67%) to 1,102.8 points, HNX-Index increased by 2.64 points (+1.18%) to 227.03 points, UpCOM-Index increased by 0.39 points (+0.46%) to 85.04 points.
According to Vietcombank Securities (VCBS), VN-Index maintained good demand and increased above the MA20 moving average and in the next session the general index will continue to move towards the 1,115 point area.
With demand still gradually improving and increasing well in individual industry groups, VCBS recommends that investors can increase the proportion of stocks to 50% of the account and still maintain the short-term trading strategy T+, focusing on industry groups that are attracting good cash flow such as oil and gas, steel, and securities.
According to Agriseco Research, trading liquidity continues to be low, showing that although the market is increasing, the general sentiment of investors is still relatively cautious.
Agriseco Research believes that the market may continue to be positive in the session on November 30, but selling pressure may quickly return as the market is relatively close to resistance around 1,115 points.
The Index's three failures to overcome this resistance could make selling pressure more intense and decisive. Therefore, investors should maintain a moderate stock ratio of 30-40% of the portfolio, limit new disbursements to wait for more accumulation signals or breakthroughs with sufficient liquidity from the market.
Morning news on November 29: 'Mistakenly sold' stocks at high prices because of... poor eyesight. Morning news on November 29 includes the main news: 'Mistakenly sold' stocks at high prices because of... poor eyesight. The US buys Vietnamese coffee at record high prices. Western newspapers: Hanoi is a precious gem that attracts tourists from all over the world.
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