A subsidiary pays dividends, Vingroup earns more than 6,000 billion VND

Vietnam Exhibition Fair Center Joint Stock Company - a subsidiary of Vingroup Corporation - will pay huge dividends.

Vietnam Exhibition Fair Center Joint Stock Company (stock code VEF) has just announced the closing of the shareholder list on June 13 to exercise the right to pay dividends for 2024 and advance dividends for the first quarter of 2025. The expected payment date is July 4. This is a subsidiary of Vingroup Corporation.

VEF will pay a huge dividend of up to 435% in cash, equivalent to shareholders owning 1 share will receive 43,500 VND. This includes a dividend payment rate of 135% in 2024 and an advance dividend of 300% from after-tax profit in the first quarter of 2025. The company currently has 166.6 million shares in circulation and this time will pay a total dividend of 7,247 billion VND. Vingroup Corporation (stock code VIC) is the parent company holding 83.32% of capital and can receive 6,038 billion VND. Next is the major shareholder, the Ministry of Culture, Sports and Tourism, owning 10% of shares, can receive 725 billion VND.

Subsidiary company pays dividends, helping Vingroup receive more than 6,000 billion VND

PHOTO: NGOC THANG

At the end of 2024, VEF achieved total revenue of VND 1,259 billion, more than double that of 2023. From there, the company's after-tax profit reached VND 942.2 billion, also more than double that of the whole year 2023. Even compared to the previously set plan for 2024, the profit implementation results were nearly 4 times higher.

In the first quarter of this year, the company also recorded a record net revenue of VND44,560 billion, mainly from the transfer of part of the Vinhomes Global Gate project. Profit after tax reached more than VND14,873 billion, 162 times higher than the same period.

On the market, VEF shares are trading around VND235,000 and are one of the top high-priced stocks on the Vietnamese stock exchange. According to the plan for 2025, Vefac sets a high business target with expected revenue of VND44,000 billion and after-tax profit of VND16,000 billion. The Board of Directors said that in 2025, it will continue to simultaneously implement projects in Hanoi such as the National Exhibition Fair Center in Dong Anh district; the Service and Trade Center Complex Project in Giang Vo; the Urban Functional Area Project South of Thang Long Avenue in Nam Tu Liem...

Source: https://thanhnien.vn/mot-cong-ty-con-chia-co-tuc-vingroup-thu-ve-hon-6000-ti-dong-185250607093148313.htm