Pha Lai Thermal Power Plant spends more than 200 billion VND to pay dividends

Pha Lai Thermal Power announced November 6 as the record date for the remaining dividend payment in 2023 at a rate of 6.25% (each share receives VND 625).

Pha Lai Thermal Power Joint Stock Company (stock code PPC) has just set the date to pay the remaining 6.25% dividend in 2023 in cash on November 6, meaning each share will receive 625 VND.

With more than 320 million shares outstanding on the Ho Chi Minh City Stock Exchange, it is estimated that the company will spend more than VND200 billion to pay dividends on December 6.

REE Energy Company Limited and REE are two major shareholders directly holding 77.4 million shares (equivalent to 24.14% of charter capital) and 66.5 million PPC shares (equivalent to 20.74% of charter capital) respectively, and will receive more than VND48 billion and VND41 billion.

The total dividend rate set by Pha Lai Thermal Power at the 2023 Annual General Meeting of Shareholders is 9%. Previously, in March 2024, the company reserved more than VND 88 billion to advance to shareholders at a rate of 2.75% (each share received VND 275).

On the stock exchange, PPC shares are at VND12,450, down 26.5% from the highest price of the year set in June (VND16,950). The average matched orders in the last 10 sessions are over 227,000 shares. Market capitalization is over VND3,991 billion.

In the first half of the year, Pha Lai Thermal Power recorded net revenue of VND4,465 billion, up 65% over the same period. Gross profit during this period was over VND223 billion, up 86.6% over the same period last year. Gross profit margin reached 5%.

After deducting expenses, the company reported pre-tax profit of VND272 billion and after-tax profit of VND251 billion, up 24.2% and 24.8% respectively over the same period in 2023.

In 2024, Pha Lai Thermal Power plans to have revenue of VND 8,755.6 billion, an increase of 39.4% over the same period. Pre-tax profit of VND 427.25 billion, an increase of 11.7% compared to the implementation in 2023. The company expects this year's dividend rate to be 6% of charter capital.

After half a year, the company has completed 51% of the revenue plan and 63.6% of the profit target.

As of the end of June, the company's total assets were approximately VND6,316 billion, an increase of VND538 billion compared to the beginning of the period. Liabilities more than doubled at the beginning of the year, up to VND1,703 billion. Owner's equity was approximately VND4,613 billion. Undistributed profit after tax was approximately VND465 billion.

Source: https://baodautu.vn/nhiet-dien-pha-lai-chi-hon-200-ty-dong-tra-co-tuc-d226963.html