Phu Nhuan Jewelry Joint Stock Company (code PNJ) has just decided to pay the second dividend in 2023, at a rate of 14% in cash.

With 334.6 million PNJ shares in circulation, it is expected that PNJ will have to spend more than VND468 billion to pay dividends this time. The ex-dividend date is October 2, the expected payment date is October 16.

Previously, in April 2024, PNJ paid the first interim dividend of 2023 at a rate of 6%.

With a total dividend payout ratio of 20% in 2023, PNJ must pay an amount equivalent to 669 billion VND.

As of June 30, Ms. Cao Thi Ngoc Dung - Chairwoman of the Board of Directors of the company, holds more than 9.3 million PNJ shares, equivalent to 2.8% of charter capital. With this payment, Ms. Dung earned more than 13 billion VND and nearly 19 billion VND for both payments.

Recently, PNJ announced its business results for the first 8 months of 2024 with revenue reaching VND 26,866 billion, up 27.2% over the same period last year. Profit after tax increased by 2.8%, reaching VND 1,281 billion.

With this result, PNJ has completed more than 72% of the revenue set for this year. Of which, revenue from retail activities accounted for 53%, up 15.1% over the same period; revenue from 24K gold sales accounted for 36.9%, up 53% and revenue from wholesale jewelry accounted for 9.2%, up 28.2%.

However, the average gross profit margin in the first 8 months of 2024 reached 16.6%, down from 18.6% in the same period in 2023.

In 2024, the world gold price fluctuated continuously, increasing by tens of percent compared to the beginning of the year. The US Federal Reserve (Fed)'s recent decision to lower interest rates by 50 basis points created an opportunity for gold prices to increase sharply and set a new peak.

As a result, domestic gold prices were also adjusted to increase. By the morning of September 20, SJC listed 9999 gold bars at VND80-82 million/tael (buy - sell). This is also the price at Doji.

As for gold rings, in recent months they have continuously set new peaks. Currently, the price of gold rings is approaching the 80 million VND/tael mark.

Before the domestic gold price fluctuated and increased following the world price, PNJ - Phuong Hoang gold also approached the level of 80 million VND/tael when it was trading around 78.6 million VND/tael (buy) and 79.7 million VND/tael (sell).

At the end of the trading session on September 19, PNJ shares reached VND98,900/share, up about 15% compared to the beginning of the year.

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