The Board of Directors of Ho Chi Minh City Securities Corporation (HSC, code HCM) approved the 2024 cash dividend advance at a rate of 5%. On the same day, the Board of Directors also decided to reappoint Mr. Trinh Hoai Giang as General Director.
HSC Securities is about to spend nearly 360 billion VND to pay dividends and reappoint CEO
The Board of Directors of Ho Chi Minh City Securities Corporation (HSC, code HCM) approved the 2024 cash dividend advance at a rate of 5%. On the same day, the Board of Directors also decided to reappoint Mr. Trinh Hoai Giang as General Director.
The ex-dividend date is February 4, 2025. With approximately 720 million shares outstanding, HSC is estimated to spend nearly VND360 billion to pay dividends this time.
As of September 30, 2024, HSC's shareholder structure has two major shareholders: Dragon Capital Markets Company Limited (DC) holding 32.18% of capital and Ho Chi Minh City State Financial Investment Company (HFIC) holding 17.26% of capital. With this ratio, it is expected that DC will earn about VND 115 billion and HFIC will earn about VND 60 billion.
The financial report also shows that during the period, these two shareholders received dividends from HSC of VND 267 billion and VND 143 billion, respectively.
In August 2024, HSC will pay cash dividends to shareholders for the second period of 2022 at VND 656/share and 2023 at VND 522/share.
Also on January 10, 2025, the HSC Board of Directors made another important decision to reappoint Mr. Trinh Hoai Giang as General Director for the 2025-2030 term. Mr. Giang was appointed General Director from January 9, 2020. Previously, he had 13 years as Deputy General Director in charge of investment and operations of the Company.
In December 2024, HSC's extraordinary general meeting of shareholders approved the plan to issue shares to existing shareholders at a rate of 50%, equivalent to offering nearly 360 million shares, with an expected offering price of VND 10,000/share. The proceeds will be used to supplement capital for margin lending (70%) and proprietary trading (30%).
According to HSC , increasing lending capacity and providing new services such as non-pre-funding transactions require the Company to increase capital. In addition, HSC will participate in the bond market to provide asset management products.
At the end of today's trading session, HCM shares closed at VND27,800/share, up 2.21%. Trading volume was over 7.58 million units.
Source: https://baodautu.vn/chung-khoan-hsc-sap-chi-gan-360-ty-dong-tra-co-tuc-tai-bo-nhiem-ceo-d240497.html
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