The Board of Directors of PC1 Group Joint Stock Company has just approved a plan to issue 46.6 million shares to pay dividends in 2023 at a rate of 15%.
PC1 Group Joint Stock Company (stock code PC1) announced that it is preparing to issue 46.6 million shares to pay dividends.
The exercise rate is 15%, meaning that shareholders owning 100 shares will receive 15 new shares. This issuance increases charter capital from VND3,109 billion to VND3,575 billion.
Mr. Trinh Van Tuan, Chairman of the Board of Directors of PC1 and the largest shareholder, directly holding nearly 66.5 million shares (equivalent to 21.38% of charter capital), will receive about 10 million newly issued shares. Next, BEHS Joint Stock Company will receive 8.28 million shares and VIX Securities will receive an additional 2.6 million shares.
The remaining major shareholder is Mr. Phan Ngoc Hieu, a member of the Board of Directors, who has registered to sell all 15.55 million PC1 shares (5% of charter capital) by order matching or negotiation from August 30 to September 27. If successful, Mr. Hieu will not hold any shares in the company and will leave the list of major shareholders after 4 months of being appointed to the Board of Directors.
On the stock exchange, PC1 shares went against the market trend today (September 26) when they lost 1% to VND29,150. However, compared to the price at the beginning of the year (VND28,200), this stock has increased by more than 3%. The volume of successful transactions in the last 10 sessions was more than 1.8 million units.
According to an analysis report by Agribank Securities Joint Stock Company (Agriseco) a month ago, the group of experts recommended that investors continue to hold PC1 shares with a target price of VND34,000, up 16.6% compared to the current market price. The recommendation was made based on the business situation in the second quarter and the first 6 months of this year, which grew strongly compared to the low base of the same period last year and the prospect of maintaining the performance in the second half of the year.
PC1's business performance improved in the second quarter of 2024 when it recorded net revenue of approximately VND 3,091 billion, double the VND 1,472 billion in the same period. Gross profit was approximately VND 469 billion, up 66.3% over the same period last year. The company reported pre-tax profit of nearly VND 95 billion and after-tax profit of VND 74.6 billion, while in the same period it reported losses of VND 264 million and VND 20.7 billion, respectively.
According to the explanation of the Board of Directors, the company increased acceptance of construction and industrial production contracts, along with the subsidiary's ore processing plant officially operating from June 2023, leading to better business results compared to the same period last year.
In the first 6 months of the year, PC1 achieved net revenue of VND5,255 billion, up 76.5% over the same period last year. After deducting expenses, the company's pre-tax profit was more than VND252 billion and post-tax profit was about VND204 billion, respectively 3 times and 3.5 times higher than the figures achieved in the same period.
This year, the company plans to achieve total revenue of VND10,822 billion, up 39.2% compared to last year. Profit after tax is VND525 billion, up 73.3% compared to the same period. In addition, the company plans to pay dividends in 2024 equivalent to the previous year, equal to 15% of charter capital. After half a year, PC1 has completed 48.6% of the revenue plan and 38.8% of the profit target.
The Board of Directors said that 2024 has many disadvantages for the company's business operations, but PC1 is confident that it will complete the plan and strive to exceed the set goals. PC1's top priority is to focus resources on industrial park real estate and civil real estate with a vision to 2030.
As of the end of June, the company's total assets were over VND21,451 billion, an increase of VND1,216 billion compared to the beginning of the period. Liabilities increased by VND1,073 billion compared to the beginning of the year, to VND14,037 billion. Owner's equity increased slightly to VND7,414 billion, and undistributed profit after tax was over VND1,086 billion.
Source: https://baodautu.vn/pc1-sap-phat-hanh-466-trieu-co-phieu-de-tra-co-tuc-d225918.html
Comment (0)