GAS Shipping (GSP) plans to issue shares to pay dividends at a rate of 10%

VHO - Gas Products International Transport Joint Stock Company (GAS Shipping, stock code: GSP) will issue shares to pay dividends in 2024 at a rate of 10%, corresponding to increasing charter capital to VND 675.2 billion.

It is estimated that GAS Shipping will issue nearly 6.14 million new shares to complete this dividend payment. Illustrative photo

GAS Shipping approved a plan to pay 2024 dividends in shares at a rate of 10%, equivalent to shareholders owning 100 shares will receive 10 new shares and is expected to be implemented after approval by the State Securities Commission, expected in the third quarter of 2025.

With more than 61.38 million shares outstanding on the market, it is estimated that GAS Shipping will issue nearly 6.14 million new shares to complete this dividend payment. If the issuance is successful, the company's charter capital will increase from VND614 billion to VND675.2 billion.

Regarding business performance, GAS Shipping's first quarter 2025 financial report recorded growth indicators. Net revenue reached VND 474.03 billion, up 8.7% over the same period in 2024. Profit after tax reached VND 29.63 billion, up slightly 2.8% over the same period.

In 2025, Gas Shipping approved a business plan with revenue of VND 2,500 billion, an increase of 9% compared to 2024 and an expected pre-tax profit of VND 120 billion. Of which, the total investment is expected to be VND 763 billion.

Thus, ending the first quarter of 2025 with pre-tax profit reaching VND 37.04 billion, GAS Shipping has completed 30.9% of the yearly plan.

Regarding the investment plan, the company plans to spend about 31 million USD to continue expanding and rejuvenating the fleet this year. Up to now, Gas Shipping has owned 10 ships, including 08 LPG ships and 02 chemical ships, operating in both international and domestic markets, maintaining its position as the No. 1 LPG and chemical transport unit in Vietnam.

Gas Shipping plans to invest in a young fleet to exploit the international market, especially in the chemical tanker segment; at the same time, focus on investing in the exploitation of a coaster-sized pressurized LPG fleet, deploying investment in the exploitation of other types of LPG carriers (semi-refrigerated ships, large-sized refrigerated ships); move towards investing in very large gas carriers - VLGC and participating in the LNG ship project for import with other partners.

Source: https://baovanhoa.vn/kinh-te/gas-shipping-gsp-du-dinh-phat-hanh-co-phieu-tra-co-tuc-voi-ti-le-10-153435.html