Specifically, LHC has announced the ex-dividend date of March 19 for two purposes: to hold the 2024 annual general meeting and to distribute the second dividend for 2023 in cash.
The 2024 annual general meeting of LHC will be held on April 20th and the venue has not been announced. The meeting is expected to approve several important contents including the production and business plan, dividends, and investments for 2024.
In the regular quarterly meeting in the first quarter of 2024 on February 2nd in Da Lat City, LHC’s Board of Directors agreed on the 2024 plan to present to the annual general meeting. Specifically, the net revenue and pre-tax profit are projected to be VND 1,100 billion and VND 103.5 billion, decreasing by 2% and 35% compared to the 2023 performance.
Source: LHC’s Board of Directors’ Resolution on the regular quarterly meeting in the first quarter of 2024
|
Prior to the annual general meeting, LHC has chosen April 17th to distribute the second dividend for 2023 at a rate of 10% (1 share receives VND 1,000). With 14.4 million outstanding shares, LHC needs to spend VND 14.4 billion for this dividend payment.
Previously, in September 2023, LHC shareholders received the first dividend for 2023 at a rate of 15%. Therefore, the total dividend rate for both dividends of LHC is 25%, which is the maximum rate approved at the 2023 annual general meeting and is 2.5 times higher than the 2022 dividend rate.
In 2023, LHC achieved VND 1,121 billion in net revenue (93% of the annual plan), a decrease of 21% compared to the previous year, with a major contribution still coming from irrigation construction activities. Pre-tax profit was over VND 160 billion (exceeding the annual plan by 11%), an increase of 5%, and net profit was VND 80 billion, an increase of 1%.
| Recent business results of LHC |
