Phuc Hung Holdings Construction Joint Stock Company (HoSE: PHC) has just announced that September 16 will be the last registration date for the Company to close the list of shareholders to receive 2023 cash dividends.
The ex-dividend date is September 13, 2024.
The implementation rate is 5% (equivalent to shareholders owning 01 share will receive 500 VND). With more than 50.6 million shares in circulation, Phuc Hung Holdings expects to need to spend more than 25.3 billion VND to pay this dividend. The expected payment date is October 18, 2024.
The capital will be taken from the consolidated after-tax profit on the Company’s 2023 audited financial statements.
In the first 6 months’ financial management report, the largest shareholder is Mr. Cao Tung Lam – Chairman of the Board of Directors with more than 5.9 million shares (equivalent to 11.66% of charter capital) expected to earn more than 2.9 billion VND.
At the 2024 Annual General Meeting of Shareholders, Phuc Hung Holdings approved a 2023 dividend payment rate of 5% in cash. Thus, after this payment, the company will complete the proposed dividend plan.
Phuc Hung Holdings has only completed nearly 3.8% of its profit plan after 6 months.
Semi-annual financial report 2024
Regarding the business results for the first 6 months of 2024, the Company recorded revenue of more than 627.4 billion VND, down nearly 15% compared to the results of the first half of last year. Profit after tax reported reached nearly 1.7 billion VND, down sharply by 43.5%.
According to the explanation minutes, the company’s leaders said: The sharp decrease in semi-annual profits was mainly due to increased business management costs because the company is promoting investment in technology and improving labor quality, increasing personnel costs and asset depreciation.
Besides, expanding operations in the Southern region also increases business management costs.
In 2024, Phuc Hung Holdings plans to do business with expected revenue of VND 2,500 billion and expected after-tax profit of VND 45 billion. Thus, at the end of the first half of the year, the Company has only achieved nearly 3.8% of the profit plan.
As of June 30, 2024, Phuc Hung Holdings’ total assets decreased by 6.3% compared to the beginning of the year to VND 2,973 billion. Of which, the main assets were short-term receivables recorded at VND 1,496 billion, accounting for 50.3% of total assets; inventories recorded at VND 694.3 billion, accounting for 23.4% of total assets; fixed assets recorded at VND 318.1 billion, accounting for 10.7% of total assets.
During the period, assets fluctuated mainly in cash and short-term financial investments, down 65.5% compared to the beginning of the year to VND 73.4 billion.
On the other side of the balance sheet, Phuc Hung Holdings’ total short-term and long-term debt decreased slightly by 2% compared to the beginning of the year to VND1,396 billion and equal to 204.8% of total equity. Of which, short-term debt amounted to more than VND1,263 billion.
On the stock market, closing the last trading session before the holiday on August 30, PHC stock price decreased by 0.86% compared to the previous trading session, currently at VND5,750/share.