Gia Lai Electricity (GEG) issues 17 million shares to pay 5% dividend

Gia Lai Electricity Joint Stock Company (Code: GEG) has just announced information about issuing shares to pay dividends to existing shareholders. The issuance rate is 5%, corresponding to each shareholder owning 100 shares will receive 5 additional issued shares.

There are currently 341 million GEG shares outstanding on the market, so GEG will have to issue about 17.1 million shares to pay dividends to shareholders.

Gia Lai Electricity pays stock dividend at a rate of 5%, equivalent to issuing 17 million more shares to shareholders (Photo TL)

On the stock market, at the trading session on August 20, 2024, GEG shares are being traded at VND 12,900/share.

Regarding business activities, in the second quarter of 2024, GEG recorded revenue of VND 487.6 billion, unchanged from the same period last year. Profit after tax reached VND 1.2 billion, down 83%.

Accumulated revenue in the first 6 months of the year, GEG achieved 1,226 billion VND, up 19% over the same period. Accumulated profit after tax reached 127.5 billion VND, up 14.8%.

In 2024, Dien Gia Lai plans to have revenue of 3,100 billion VND, an increase of 38%, and profit after tax of 270 billion VND, an increase of 88% compared to the previous year. With the results of the first 6 months of the year, Dien Gia Lai has completed 40% of the revenue target and 47% of the profit plan for the whole year.

Source: https://www.congluan.vn/dien-gia-lai-geg-phat-hanh-17-trieu-co-phieu-tra-co-tuc-ty-le-5-post308446.html