Stock price 400 VND, company pays dividend of nearly 3,800 VND

BCB announced that on June 23, it will close the list of shareholders to pay the 2022 cash dividend at a rate of 37.562%, equivalent to a shareholder owning 1 share will receive 3,756.2 VND. Notably, BCB shares are currently trading on UPCoM at only 400 VND. Thus, this cash dividend is 9 times higher than the stock price - the highest dividend compared to the price on the stock exchange.

At the same time, BCB also paid bonus shares to existing shareholders at a rate of 14%, corresponding to shareholders owning 100 shares receiving 14 new shares. The total number of newly issued shares is 700,000 units.

BCB pays cash dividend 9 times higher than stock price

With 5 million shares in circulation, the company will spend nearly VND19 billion to pay dividends this time. At the same time, the capital source for issuing bonus shares will be allocated nearly VND7 billion from the development investment fund and more than VND94 million from accumulated undistributed profit after tax up to December 31, 2022. After completing the payment of dividends to shareholders, issuing shares to increase charter capital from equity capital plus setting aside funds, BCB will have no remaining profits.

The cash dividend paid in 2022 is a record high and is also the first time the company has issued shares to increase charter capital.

BCB's share price is among the lowest on the stock exchange, remaining at VND400/share since May 2022 and also after more than a year of no transactions. This may be due to BCB's relatively concentrated shareholder structure. Currently, by the end of 2022, Dong Bac Corporation owns 51% of shares with 2.55 million BCB shares, Quang Thanh Construction Company Limited is the second largest shareholder with 20% ownership (1 million shares), followed by Tho Huan Construction, Trade and Tourism Joint Stock Company owning 11.46% of capital (573,100 shares). The remaining shares are owned by a number of other individuals.

NCN was formerly Coal Mining Team No. 1, established in June 1996 under Dong Bac Company and equitized since December 2017. BCB's main business is mining and collecting hard coal with the main area at Nam Trang Bach mine. In 2022, the company achieved revenue of VND 1,263 billion, up 10% compared to 2021 and after-tax profit of more than VND 19.5 billion, down 14% compared to 2021.

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