Becamex IJC will pay dividends exceeding 264 billion VND at the end of 2024.

Becamex Infrastructure Development Joint Stock Company (Becamex IJC, ticker IJC - HoSE) has just set the final registration date for shareholders to pay the 2023 dividend in cash at a rate of 7% (700 VND/share) on September 27, 2024.

The ex-dividend date is September 26, 2024. According to the company's recent announcement, the dividend will be credited to shareholders' accounts on December 26, 2024.

With over 377.7 million shares outstanding, Becamex IJC is expected to spend approximately VND 264.4 billion on this dividend payment. Currently, the Industrial Development Investment Corporation - Joint Stock Company (Becamex IDC, ticker BCM, HoSE) is the sole major shareholder of Becamex IJC, holding nearly 188 million shares, representing 49.76% of the charter capital, and this company will receive nearly VND 132 billion in dividends.

Previously, Becamex IJC's general shareholders' meeting approved a dividend of 7% in cash, expected to be distributed in the fourth quarter of 2024. This is lower than the previously announced plan (10%) and lower than the 2022 dividend of 14%. Furthermore, the company plans to further reduce the dividend rate in 2024 to only 5% of charter capital.

In the first half of 2024, Becamex IJC recorded revenue of VND 531.24 billion, a decrease of 49.38% compared to the same period last year. After-tax profit reached VND 112.74 billion, a decrease of 54.85% compared to the same period. For 2024, the company aims for revenue of VND 2,206 billion and after-tax profit of VND 511 billion. Thus, after six months, the company has achieved 24% of its revenue target and 22% of its profit target for the whole year of 2024.

In April 2024, Becamex IJC offered nearly 126 million shares to existing shareholders at a ratio of 50%, meaning that for every 100 shares owned, shareholders could purchase 50 new shares. The offering price was VND 10,000 per share. Following this large-scale issuance, the charter capital increased from VND 2,518 billion to VND 3,777 billion.

Becamex IJC used VND 366 billion to invest capital through the purchase of newly issued shares in Becamex Binh Phuoc Infrastructure Development Joint Stock Company; VND 853.4 billion for repayment of principal/interest on short-term and long-term bank loans, bonds, and customer debts; and VND 39.6 billion to supplement working capital.

Despite falling short of the planned targets in the first half of the year, IJC's capital increase plan was completed at 100%. Nearly 97% of the offered shares were distributed to shareholders, with only about 4.1 million shares, equivalent to 3.29%, remaining undistributed but also being processed later.

Regarding business direction in 2024, for the real estate sector, the management board stated that the projects expected to be launched and put into business this year are mainly projects in Hoa Phu ward, Binh Duong New City; Sunflower II villa project; Hoa Loi residential area project; Hoang Tu II street project… On the stock market, IJC shares are trading at VND 14,050 per share, an increase of approximately 13% compared to the beginning of the year.

Source: https://baodautu.vn/becamex-ijc-tra-co-tuc-hon-264-ty-dong-vao-cuoi-nam-2024-d225266.html