On May 13, Phan Thiet Garment Export Joint Stock Company (code: PTG) will close the list of shareholders receiving interim cash dividend payment for Q1/2024 at a rate of 50% (01 share will receive VND 5,000). With more than 4.9 million shares in circulation, PTG is estimated to spend nearly VND 25 billion for this dividend payment. The expected payment date is June 13, 2024.
On the stock market, PTG’s share price has been stagnating at a mere VND 500/share for a long time, which is only 1/10 of the dividend shareholders are about to receive. Notably, this is the historical peak of this stock because the dividend payment in recent years has caused the stock price to adjust to a very low level.
However, PTG shares have almost no matched orders. The last time PTG shares had liquidity was on Feb 1, 2024, with 45,000 units traded in deals, the total transaction value was VND 23 million. Shareholders tend to hold shares for a long time to receive dividends instead of “trading” short-term waves.
Phan Thiet Garment is a company with a tradition of paying cash dividends to shareholders. Since listing on UPCoM in early 2010, this textile and garment company has never forgotten to pay cash dividend. Even in some years, the dividend rate was as high as 120% (VND 12,000/share). In 2024, Phan Thiet Garment plans to pay a 100% cash dividend, corresponding to VND 50 billion in estimated payment.
Regarding the 2024 business plan, Phan Thiet Garment sets a revenue target of over VND 506 billion, an increase of nearly 10% compared to the previous year’s result. However, the after-tax profit is expected to decrease slightly by nearly 3% to the level of VND 45.5 billion.
