Southern Hydropower pays 2nd dividend in 2023, rate 20%

Together with the previous interim dividend (10%), the total dividend payout ratio for 2023 is 30%. The dividend will be paid to shareholders on October 25, 2024.

Southern Hydropower Joint Stock Company (code SHP, HoSE) has just finalized the list of shareholders to pay the second dividend of 2023 in cash at a rate of 20% (VND 2,000/share) on October 14, 2024.

The ex-dividend date is October 11, 2024. Dividends will be paid to shareholders from October 25, 2024.

With more than 101.2 million shares in circulation, Southern Hydropower is expected to spend more than VND202 billion on this dividend payment. Currently, Southern Power Corporation is the largest shareholder of SHP with more than 49.4 million shares, equivalent to 48.86% of charter capital. Southern Power Corporation can collect nearly VND99 billion in dividends.

Previously, in early 2024, Southern Hydropower paid an interim cash dividend for 2023 at a rate of 10% (VND 1,000/share). Previously, the 2024 Annual General Meeting of Shareholders of Southern Hydropower approved the payment of 2023 cash dividends at a rate of 30%. It is expected that the cash dividend rate for 2024 will decrease by 25%.

According to the 2024 semi-annual financial report, the company's revenue and other income this period reached more than VND 157.5 billion, down 28.6% over the same period last year. Profit after tax reached more than VND 27 billion, down sharply by 55.1%. The company representative said that revenue and other income decreased because the average water flow to the reservoirs of the 3 factories in the first half of this year was lower than the same period, so electricity generation output decreased, and the average electricity price in the first 6 months of 2024 also decreased compared to the same period last year.

As of June 30, 2024, the company's total assets were VND 1,417 billion, down 8% compared to the beginning of the year. Of which, long-term assets accounted for a high proportion, while short-term assets were only over VND 236 billion. Cash and bank deposits increased sharply from VND 59 billion to VND 120 billion. Short-term debt doubled compared to the same period and was VND 334 billion, of which other short-term payables increased sharply from VND 22 billion to VND 225.5 billion. Short-term loans decreased from VND 90 billion to VND 80 billion. Long-term loans decreased from VND 29 billion to VND 13 billion.

SHP stock performance.

Southern Hydropower Joint Stock Company officially came into operation in July 2004 with a charter capital of 250 billion VND. The company currently manages 3 power plants including Da M'bri, Da Siat and Da Dang 2.

SHP shares have been listed on HoSE since 2014. SHP shares are currently trading at VND35,800/share, an increase of about 18% compared to the end of last year.

Source: https://baodautu.vn/thuy-dien-mien-nam-tra-co-tuc-dot-22023-ty-le-20-d225372.html