Becamex IDC (BCM) mobilized 2,120 billion in bonds, still spent 1,035 billion to pay dividends

Becamex Industrial Development Corporation (Becamex IDC - Code: BCM) has just announced the plan to finalize the list of shareholders for dividend distribution on November 5, 2024.

The dividend distribution plan will be implemented at a rate of 10%, meaning each shareholder owning one share will receive 1,000 VND in dividends. With 1,035 million shares outstanding, Becamex IDC is expected to spend 1,035 billion VND to pay dividends to existing shareholders. The expected dividend payment date is December 27, 2024.

Becamex IDC (BCM) raised 2 trillion VND through bond issuance in the first nine months of the year, while still paying out 1 trillion VND in dividends (Photo: Provided).

Becamex IDC's payment of 1,035 billion VND in dividends comes as the company has recently increased its bond issuance to raise capital.

On October 9, 2024, Becamex IDC successfully issued its 5th bond issue with a face value of VND 320 billion. To date, Becamex IDC has raised VND 2,120 billion through bond issuance in 2024.

In addition, Becamex IDC has also had to withdraw some of the collateral for bond issue BCMH2427001, which is the land use right certificate, house ownership certificate and property attached to the land numbered CY 3756299, plot number 245, map sheet 44 in Hoa Phu ward, Thu Dau Mot city, Binh Duong province. This withdrawal of collateral took place just 3 months after Becamex IDC successfully issued the bonds, raising 800 billion VND.

In terms of business performance, Becamex IDC recorded revenue of VND 1,973.5 billion in the first half of the year. After-tax profit reached VND 513.4 billion, more than tenfold compared to the same period last year. However, compared to the annual business plan with revenue of VND 9,000 billion and after-tax profit of VND 2,350 billion, Becamex IDC has only achieved 21.8% of its annual profit target.

Source: https://www.congluan.vn/vua-huy-dong-trai-phieu-2120-ty-becamex-idc-bcm-van-chi-1035-ty-tra-co-tuc-post317083.html