Specifically, DTV is expected to present the AGM with a target revenue of over VND 701 billion, an 11% increase compared to 2023; after-tax profit of VND 36.5 billion, a 12% increase. The target commercial electricity output to be purchased and sold is expected to reach over 356 million and nearly 341 million kWh, respectively, a 7% increase from the previous year.
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DTV’s 2024 plan
Source: DTV
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This plan comes after DTV experienced a record-breaking profit in 2023. The company achieved VND 630 billion in revenue and VND 33 billion in after-tax profit, the highest since its listing in 2010.
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DTV’s business results and 2024 plan
Source: VietstockFinance
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Regarding investment targets, DTV plans to spend over VND 37 billion, a 25% increase from the previous year. Of this, the largest portion is allocated to the installation of rooftop solar energy systems (1,000 kWp) with VND 11.5 billion, and investment in electronic electricity meters for over 13,000 households (almost VND 9.2 billion).
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DTV’s 2024 investment targets
Source: DTV
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As for dividend targets, the company plans a dividend rate of 20% for 2024, lower than the 30% dividend rate in 2023. In terms of remuneration for the Board of Directors and Supervisory Board, DTV plans a fixed amount of VND 450 million per year, which will be presented during the AGM.
DTV is a company operating in the field of electricity investment, development of power facilities; trading of electricity, specialized electricity supplies… The company can be seen as a “grandchild” of REE Corporation (HOSE: REE), indirectly owned through the wholly-owned subsidiary, REE Energy Company Limited. Currently, REE Energy holds over 66.29% of the charter capital of DTV, equivalent to nearly 3.5 million shares.
The annual general meeting of shareholders in 2024 will be held at 8:30 am on March 21, 2024, at the company’s conference hall at 68 Nguyen Chi Thanh, Tra Vinh City.
