PV GAS spends 13,780 billion VND to pay cash dividends

PV GAS announced that it will close the right to pay a 60% cash dividend and distribute bonus shares at a ratio of 50:01 on September 16, 2024. More than VND 13,780 billion in dividends will be transferred to investors' accounts by the end of November 2024.

PV GAS will pay dividends in 2023 at a rate of 60%/share (VND 6,000/share).

PetroVietnam Gas Corporation - Joint Stock Company (PV GAS, code GAS - HoSE floor) has just announced the dividend payment plan for 2023.

Accordingly, the last registration date to make a list of shareholders to pay 2023 cash dividends and receive shares issued due to increasing share capital from equity capital is September 16, 2024. Correspondingly, the ex-rights transaction date is September 13, 2024.

Specifically, PV GAS will pay dividends in 2023 at a rate of 60%/share (VND 6,000/share). The cash dividend payment date is November 28, 2024. With nearly 2.3 billion shares in circulation, PV GAS will spend more than VND 13,780 billion on this dividend payment.

Vietnam Oil and Gas Group is currently the only major shareholder of PV GAS, holding nearly 2.2 million shares, equivalent to 95.76% of PV GAS's capital. This unit will receive nearly 13,200 billion VND in dividends.

At the same time, PV GAS plans to issue a maximum of more than 45.9 million bonus shares at a ratio of 50:01 (shareholders owning 1 share will receive 1 purchase right, 50 purchase rights will receive 1 new share).

The capital for issuance is taken from the development investment fund determined as of December 31, 2023 according to the audited separate financial report for 2023. At that time, this fund was worth VND 23,700 billion. According to the consolidated financial report for the second quarter of 2024, this capital amounted to VND 27,445 billion.

The business results of the gas giant continued to grow strongly. PV GAS recorded consolidated revenue of more than VND 30,052 billion in the second quarter of 2024, up 25% over the same period. Gross profit margin improved, increasing from 18% to 19%. Profit after tax of the parent company's shareholders reached VND 3,321 billion, up 5%.

In the first half of the year, PV GAS achieved total revenue of VND 53,367 billion, an increase of 18% compared to the first half of 2023. Profit after tax decreased by about 10% to VND 5,832 billion, of which profit before tax reached VND 7,410 billion.

In 2024, the company's general meeting of shareholders approved the plan for total consolidated revenue of VND 70,176 billion and pre-tax profit of VND 7,249 billion. With the above results, PV GAS has completed 76% of the revenue plan and exceeded the profit plan for the whole year by more than 2%.

GAS stock price development in 2024.

As of June 30, 2024, PV GAS's total assets reached VND 95,167 billion, an increase of 8% compared to the beginning of the year. Cash and bank deposits accounted for the largest proportion with VND 43,919 billion. Owners' equity at the end of the second quarter of 2024 was recorded at VND 70,921 billion, an increase of more than VND 5,600 billion; of which the development investment fund was VND 27,445 billion, and undistributed profit after tax was VND 18,866 billion.

On the stock market, PV GAS shares are trading at around VND85,000/share, up 13% compared to the beginning of the year.

Source: https://baodautu.vn/pv-gas-chi-13780-ty-dong-de-tra-co-tuc-bang-tien-d222866.html