Phan Thiet Export Garment Joint Stock Company (PTG) decided to advance this year's dividend to shareholders at a rate of 50%, equivalent to 5.000 VND, while the market price of shares on UPCoM is at 500 VND.
The Board of Directors of Phan Thiet Export Garment Joint Stock Company (stock code: PTG) has just announced a resolution agreeing to advance the first cash dividend in 1 at a rate of 2024%, meaning shareholders who own each share will receive 50 VND. The closing date for the list of shareholders is May 5.000 and payment is on June 13.
With more than 4,9 million outstanding shares, it is estimated that this business will spend about 25 billion VND to advance dividends.
This decision was made after the company's annual general meeting of shareholders approved this year's dividend plan of 20-100% of charter capital, meaning the total dividend could be up to 50 billion VND.
On the stock exchange, shares of Phan Thiet Garment Export Joint Stock Company are currently at 500 VND, up 20% compared to 400 VND at the beginning of the year. This means that the value of the advance dividends that shareholders are about to receive is 10 times higher than the market price. This is the historical peak of this stock because dividend payments for many years have caused the market price to adjust to a very low level.
Attractive dividends, but PTG shares have almost no liquidity because there are only 287 shareholders (according to the 2023 annual report). The last time the company's shares recorded a successful order match was in early February this year with 2 shares changed hands.
Phan Thiet Garment Export Joint Stock Company has been trading on the stock exchange since 2010 with a market price of 10.000 VND. The company currently has a charter capital of approximately VND 50 billion and has always maintained cash dividends since going public.
In 2023, the company records revenue of 460 billion VND, down more than 10% over the same period. Profit before tax reached 57,4 billion VND and after tax reached 46,7 billion VND, a negligible difference compared to the same period. Last year's dividend rate was 20%, equivalent to the company spending 10 billion VND to distribute dividends to shareholders.
This year, the company sets a revenue target of 506 billion VND, an increase of 9,87% compared to the previous year. Pre-tax profit is expected to reach 56,8 billion VND and after tax to reach 45,5 billion VND.
The Board of Directors said that this goal was built based on the assessment that the world economic situation has many unpredictable fluctuations and that natural disasters and unusual epidemics can affect the company's production and business activities.
In addition, the company believes that competition for garment processing orders with developing countries in Asia is increasingly fierce and the lack of skilled labor is also having a significant impact. However, the company also recognizes that there are some favorable factors such as the increasing image and position of Vietnam and favorable geographical location, so there will likely be positive changes in orders.
