Thac Mo Hydropower Plant spends 126 billion VND to advance dividends for 2024

Thac Mo Hydropower will spend about 126 billion VND to pay interim dividends to shareholders. The first interim dividend rate is 18%, all in cash.

Thac Mo Hydropower will spend about 126 billion VND to pay interim dividends to shareholders. The first interim dividend rate is 18%, all in cash.

Thac Mo Hydropower Plant

The Board of Directors of Thac Mo Hydropower Joint Stock Company (stock code TMP) has approved the provisional payment of the first dividend in 2024, in cash at the rate of 18% (1 share receives 1,800 VND) . The list of shareholders will be closed on December 12, 2024. Thus, the ex-dividend date will be November 11, 2024 and the dividend will be paid to shareholders on December 24, 2024.

With 70 million shares in circulation, the company is expected to spend about VND126 billion for this interim dividend payment. The two largest shareholders of Thac Mo Hydropower are Power Generation Corporation 2 - Joint Stock Company (GE2) and REE Energy Company Limited - a subsidiary of Refrigeration Electrical Engineering Corporation (code REE - HoSE) currently holding more than 36.3 million shares (52.92% of capital) and 29.8 million shares (42.63% of capital), respectively. These two units are expected to receive VND65.4 billion and VND53.7 billion in dividends from Thac Mo Hydropower.

Previously, the General Meeting of Shareholders of Thac Mo Hydropower Plant approved a dividend rate of over 20% for 2024. Thac Mo Hydropower Plant is known as a company that continuously pays cash dividends at a high rate. In 2020, the dividend rate was 72%. In 2020 and 2021, the rate dropped to 30%. Meanwhile, the dividend rate in 2023 increased to nearly 90%.

Recently, the company announced its plan to divest all 35% of its capital at Thac Mo Hydropower Reservoir Investment and Exploitation Joint Stock Company through auction. Accordingly, 140,000 common shares of Thac Mo Hydropower at Thac Mo Hydropower Reservoir will be divided into 5 packages and auctioned at a starting price of VND 10,300/share. The auction is scheduled to take place on November 8, 2024 at the Binh Phuoc Province Property Auction Service Center.

In the first 9 months of 2024, Thac Mo Hydropower's net revenue reached nearly VND 531 billion, down 16.4% over the same period last year. Profit after tax reached nearly VND 246 billion, down 30%.

TMP stock price from the beginning of the year until now

As of September 30, the company's total assets reached more than VND2,024 billion, down 5.6% compared to the end of last year. Owner's equity reached VND1,557 billion. The company had nearly VND424 billion in undistributed profit after tax. On the stock market, TMP shares are trading at VND68,000/share, up about 5% compared to the end of last year.

Source: https://baodautu.vn/thuy-dien-thac-mo-chi-126-ty-dong-tam-ung-co-tuc-nam-2024-d231119.html