Imexpharm (IMP) profit decreased, expected to pay dividend at 20% rate

Imexpharm Pharmaceutical Joint Stock Company (IMP) has just announced the right to pay a dividend of 20% for 2023. The ex-right date is July 11, 2024.

Including: 10% cash dividend and 10% stock dividend. Equivalent to each shareholder owning 10 shares will receive 10,000 VND in dividends and 1 newly issued share. Expected cash dividend payment date is July 23, 2024.

Imexpharm (IMP) profit decreased, preparing to pay dividend at 20% rate (Photo TL)

Currently, there are 70 million IMP shares in circulation on the market. Thus, it is expected that Imexpharm will have to spend about 70 billion VND to pay cash dividends to shareholders. In addition, the amount of additional shares issued to pay dividends will increase IMP's charter capital from 700 billion to 770 billion VND.

Regarding business activities, in the first quarter of 2024, Imexpharm recorded net revenue of VND 491 billion, a slight increase over the same period. Profit after tax reached VND 62 billion, down 20% over the same period. In 2024, IMP set a pre-tax profit target of VND 423 billion, an increase of 12% over the same period. Thus, Imexpharm is behind schedule.

IMP explained that the reason was the increase in input material prices, which caused a decline in business results. Depreciation costs at the IMP4 factory were also the reason for the decline in profits.

Source: https://www.congluan.vn/imexpharm-imp-loi-nhuan-giam-du-kien-tra-co-tuc-ty-le-20-post301797.html