Viettel Post pays cash dividend of nearly 183 billion VND

Viettel Post announced to pay 2023 cash dividend to shareholders at a rate of 15%, parent company Viettel received more than 111 billion VND.

Viettel Post Joint Stock Corporation (stock code: VTP) has just announced to pay 2023 cash dividend at a rate of 15%, meaning each share receives 1,500 VND.

The expected shareholder record date is in September and payment is in October 2024. The Board of Directors assigns the General Director to choose the implementation time based on the company's production and business activities.

With nearly 121.8 million shares in circulation, Viettel Post is estimated to spend about VND182.7 billion to pay dividends to shareholders.

The Military Industry and Telecommunications Group (Viettel) is currently the sole major shareholder of Viettel Post, holding 60.84% ​​of the charter capital. This unit will receive more than VND111 billion in dividends.

The 15% cash dividend was approved by the company's shareholders at the previous annual meeting. This is also the expected level for this year. In previous years, the company often paid dividends to shareholders in cash and shares.

VTP previously registered to trade on UPCoM, but then switched to listing on HoSE from the end of March 2024. The current market price is 73,500 VND, up 12.5% ​​compared to the debut session. The average matched volume is about 447,000 units. Market capitalization is more than 8,951 billion VND.

According to the audited consolidated financial statements, in the first 6 months of the year, the company achieved net revenue of VND 9,618 billion, a slight decrease compared to the same period last year. Gross profit decreased by 5.1% compared to the same period in 2023, reaching VND 391 billion. Gross profit margin was more than 4%, equivalent to the level achieved in the same period.

The company reported pre-tax profit of VND183 billion and after-tax profit of VND145.5 billion, both down 16% year-on-year.

This year, Viettel Post set a consolidated revenue target of VND13,189.76 billion, down 33.1% compared to last year. Pre-tax profit reached VND462.44 billion and after-tax profit VND369.95 billion, up 3.3% and 2.6% respectively over the same period. After half a year, the company has completed 73% of the revenue plan and more than 39% of the profit target.

Viettel Post plans to continue to narrow its sales segment (phone SIM cards) to focus on delivery and logistics segments with better profit margins. The corporation said that this narrowing will have a negligible impact on absolute profits and will help improve the overall profit margin. This year, Viettel Post aims to achieve revenue from delivery and logistics of VND9,147 billion, an increase of 33.3% compared to 2023.

Responding to shareholders' questions about the 2024-2029 vision with the expectation of 10 times the revenue of the previous year, Mr. Hoang Trung Thanh - General Director of Viettel Post - said that this goal is an aspiration and vision for Viettel Post to continuously develop and improve its position in the next 5 years. The company's goal and aspiration is that in 5 years, the revenue can be 10 times larger than the current one. Each year, the board of directors sets specific goals.

“In 2024, Viettel Post’s revenue target for the delivery and logistics sector when presented to shareholders was to grow by more than 30%, but the management board set a growth target of 45%. Setting a higher operating target is how Viettel Post realizes its aspirations,” Mr. Thanh shared.

The company's total assets as of the end of the second quarter of 2024 were over VND 7,056 billion, an increase of VND 622 billion compared to the beginning of the year. Liabilities were over VND 5,459 billion, of which short-term debt accounted for the majority with over VND 5,391 billion. Owner's equity reached VND 1,597 billion, undistributed profit after tax was approximately VND 313 billion.

Source: https://baodautu.vn/viettel-post-chia-co-tuc-tien-mat-gan-183-ty-dong-d224851.html