Dinh Vu Port closes the right to pay 30% cash dividend

Dinh Vu Port closes the right to pay 30% cash dividend

Dinh Vu Port Investment and Development Joint Stock Company will spend 120 billion VND to pay interim dividends for 2024.

Dinh Vu Port Investment and Development Joint Stock Company (code DVP, HoSE) announced information on the last registration date to pay interim dividends for 2024 to shareholders. Accordingly, February 10, 2025 will be the last registration date to exercise the right to receive cash dividends at a rate of 30%/share (shareholders owning 1 share will receive VND 3,000). Thus, the ex-rights transaction date will be February 7, 2025. The expected payment date is February 27, 2025.

With 40 million shares in circulation, Dinh Vu Port is estimated to spend about VND120 billion on this dividend payment to shareholders. Currently, Hai Phong Port Joint Stock Company (code PHP, UPCoM floor) is holding 20.4 million shares, equivalent to 51% of Dinh Vu Port's capital. Hai Phong Port is expected to collect VND61.2 billion in dividends. Agricultural Materials Joint Stock Company is expected to collect more than VND22.4 billion in dividends thanks to holding 7.48 million DVP shares (18.7%).

Regarding the business situation, Dinh Vu Port said that revenue in the third quarter of 2024 reached 178.5 billion VND, an increase of 24.5% over the same period last year. Net profit from business activities in the third quarter of 2024 reached more than 138.8 billion VND, an increase of 116% over the same period. Other profits recorded more than 4.26 billion VND, while in the same period last year it was only more than 8 million VND. As a result, Dinh Vu Port's after-tax profit in the third quarter of 2024 reached 128.4 billion VND, an increase of 151% over the same period last year.

The company said that its third quarter 2024 profit grew strongly compared to the same period last year due to the company receiving dividends from SITC Dinh Vu Logistics Company Limited of VND 70.39 billion. In addition, goods through the port in the third quarter increased by 13% compared to the same period last year, with business activities improving.

Accumulated in the first 9 months of 2024, Dinh Vu Port's revenue reached 520.4 billion VND, an increase of 28.5% over the same period last year. Profit after tax in the first 9 months reached 274.3 billion VND, almost unchanged compared to the result (273.9 billion VND) of the same period last year.

In 2024, Dinh Vu Port set a revenue target of VND700 billion and pre-tax profit of VND345 billion. At the end of the first 9 months of the year, the company achieved revenue of VND520.4 billion and pre-tax profit of VND325.5 billion. Thus, the company has completed 74.3% of the revenue plan and 84.2% of the yearly profit target.

On the stock market, DVP stock price closed on January 13 at VND 83,800/share, up 27% compared to the beginning of 2024.

Source: https://baodautu.vn/cang-dinh-vu-chot-quyen-tam-ung-co-tuc-ty-le-30-bang-tien-d240523.html