A textile company is about to pay cash dividends 10 times higher than the market price

A textile company is about to pay cash dividends 10 times higher than the market price

Phan Thiet Export Garment Joint Stock Company (UPCoM: PTG) announced that May 13 is the closing date for the list of shareholders to receive advance dividends for the first phase of 2024 in cash. The ex-dividend date is May 10.

The implementation rate is 50%, equivalent to 1 share receiving 5,000 VND. With more than 4.9 million shares in circulation, estimated PTG Need to spend nearly 25 billion VND to implement. Expected payment date is June 13, 2024.

Notably, market price PTG only 500 VND/share as of April 23, meaning the amount of dividends paid is worth 10 times the market price.

On the stock exchange, shares PTG There are almost no transactions, only recording trading volume in certain sessions. Last time, stocks PTG Liquidity date is February 1, 2024, with 45,000 shares traded via agreement, total transaction value is 23 million VND.

The Company’s 2024 Annual General Meeting of Shareholders approved the 2024 dividend rate of 100% in cash, equivalent to needing to spend nearly 50 billion VND to implement. The approved target revenue is 506.3 billion VND, an increase of nearly 10% compared to the previous year. However, profit after tax is expected to decrease by nearly 3% to 45.5 billion VND.

In the past, PTG is an enterprise that pays cash dividends at a consistently high rate over the years. From 2014 to present, the lowest dividend rate of PTG is 20% and the highest is 120% (years 2018, 2020, 2022).

Kha Nguyen

FILI