Gilimex sets the right to pay 2023 dividend in shares, rate 45.2%

Gilimex will pay dividends in 2023 in shares with the shareholder list finalized on November 11. The company plans to pay a 10% dividend in 2024 but has only completed 18% of its profit plan after half a year.

Gilimex will pay dividends in 2023 in shares with the shareholder list finalized on November 11. The company plans to pay a 10% dividend in 2024 but has only completed 18% of its profit plan after half a year.

Gilimex is about to close the right to pay dividends in shares in 2023

Binh Thanh Import-Export Production and Trading Joint Stock Company (Gilimex, code GIL, HoSE) has just announced that the last registration date to pay 2023 dividends in shares is November 11, 2024, at a ratio of 100:45.2467. Each shareholder owning 1 share will have 1 right to receive dividends in shares, for every 100 rights, they will receive an additional 45.2467 newly issued shares. The ex-rights trading date will be November 8, 2024.

With 69.95 million listed shares, Gilimex is expected to issue more than 31.65 million shares to pay dividends, thereby increasing its charter capital to more than VND1,016 billion.

Regarding business activities, at the end of the first 6 months of the year, Gilimex recorded net revenue of VND 366.5 billion, down 14% over the same period last year. However, thanks to a 29% decrease in cost of goods sold, gross profit in the period was 13 times higher than in the first half of 2023, reaching VND 68.3 billion. After deducting expenses arising from business activities, Gilimex recorded a net profit of VND 11 billion in the first 6 months of the year, a significant improvement compared to the loss of nearly VND 44 billion in the first half of 2023.

Gilimex's Board of Directors said that the business results in the first 6 months of the year grew positively compared to the same period last year thanks to production and business activities changing the structure of exported products and industrial park real estate business activities bringing profits.

Gilimex's revenue target for 2024 is VND1,500 billion, up 60.2% year-on-year. The company expects pre-tax profit to reach VND100 billion, nearly double that of 2023, with an expected dividend of 10%. However, by the end of the first half of 2024, Gilimex had only completed 18.6% of its profit target with pre-tax profit reaching VND18.6 billion.

Recently, Mr. Nguyen Viet Cuong, a member of the Board of Directors of Gilimex, announced his resignation and registered to sell shares to reduce his ownership ratio to 1.42% of charter capital. Mr. Cuong, born in 1976, has been a member of the company's Board of Directors since March 2013. During more than ten years working at this manufacturing enterprise, Mr. Cuong has repeatedly represented Chairman of the Board of Directors Le Hung to chair the General Meetings of Shareholders when the Chairman could not attend.

Mr. Nguyen Viet Cuong plans to sell 400,000 shares, reducing the number of shares he holds from 1.4 million to 1 million shares. The ownership ratio will decrease from 2% of charter capital to 1.42% of charter capital. This transaction is expected to take place between October 8 and November 7.

At the end of 2022, Gilimex filed a lawsuit with the New York Supreme Court (USA) demanding compensation of 280 million USD against Amazon - the world's leading e-commerce company. At that time, Gilimex accused Amazon of "unfair trade practices", breach of contract and breach of fiduciary duty. Specifically, Amazon suddenly reduced orders, causing Gilimex to face a situation of excess production capacity and raw materials, also because it had previously invested too heavily. On the stock market, GIL shares are trading at 28,700 VND/share, an increase of about 15% compared to the end of last year.

Source: https://baodautu.vn/gilimex-chot-quyen-tra-co-tuc-nam-2023-bang-co-phieu-ty-le-452-d228635.html