Vietnam Rubber Group (GVR) is about to spend VND 2,400 billion to pay dividends

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With the holding of 96.77% capital, the State Capital Management Committee at Enterprises (SCIC) will receive more than 2,322 billion VND. Estimated time of payment is October 28.

GVR Group’s head office is at 177 Hai Ba Trung, Ward 6, District 3, Ho Chi Minh City. (Artwork: Minh Hang).

Vietnam Rubber Industry Group (Code: GVR)  has just announced October 14 is the last registration date to receive a cash dividend of 6% (600 VND/share). The corresponding date of October 13 is the ex-rights date.

With 4 billion shares outstanding, it is estimated that GVR will spend 2,400 billion dong to pay dividends to shareholders. In which, with holding 96.77% of capital, the State Capital Management Committee at Enterprises (SCIC) will receive more than 2,322 billion VND. Estimated time of payment is October 28.

Regarding the business activities in the second quarter, GVR’s net revenue increased by 72% compared to the same period last year, reaching VND 5,688 billion. Profit after tax reached 1,160 billion dong, up 126%.

The group said the reason was the steady increase in selling prices of rubber products; industrial park infrastructure rental revenue increased.

In addition, the selling price of some wood products and rubber industrial products increased significantly, helping the gross profit and profit after tax of most of the group’s capital-contributing units to improve significantly over the same period.

In the first 6 months, GVR’s net revenue reached VND 10,537 billion and pre-tax profit of VND 2,376 billion, up 77% and 182% respectively over the same period. Thus, after the first half of the year, the group has achieved 39% of the revenue target and 46% of the year’s profit before tax plan.

On the market, GVR stock paused at 32,800 dong at the end of July 27, up about 34% compared to the beginning of May.

Price movement of GVR stock from the beginning of the year until now. (Source: TradingView).

Source: vietnambiz.vn – Translated by fintel.vn