PGC has announced that the shareholder list will be finalized on June 14, with the ex-dividend date set for June 13.
With a payout ratio of 12% (VND 1,200 per share) and over 60.3 million shares in circulation, PGC is estimated to distribute more than VND 72.4 billion in dividends, expected to be paid out on July 19. The majority of these dividends will go to the Vietnam National Petroleum Group (HOSE: PLX) – the parent company that owns over 52% of PGC’s capital.
This dividend payout is in line with the plan approved at the 2024 Annual General Meeting of Shareholders held in April. For 2024, PGC aims to distribute a minimum dividend of 10%. Overall, the 2023 and 2024 dividends are modest compared to the company’s historical dividend payments.
This issue was raised by shareholders at the recent annual meeting. In response, Mr. Nguyen Quang Dinh, Chairman of PGC’s Board of Directors, explained that given the challenging business environment in 2024 and after careful consideration of the company’s long-term orientations, especially regarding market share development, the management team proposed a minimum dividend payout of 10%.
“When we achieve higher profits, we will certainly distribute higher dividends. We hope that shareholders share this perspective”, expressed Mr. Dinh.
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PGC’s dividend per share over the years
Unit: VND/share
Source: VietstockFinance
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For 2024, PGC targets flat revenue of VND 3,550 billion, assuming a 5% decrease in the global liquefied petroleum gas (LPG) price compared to the previous year. Expected pre-tax profit is VND 138 billion, a 2% increase compared to 2023.
In the first quarter of 2024, PGC recorded revenue of over VND 1,003 billion, a 5% increase compared to the same period last year, but net profit decreased by 5%.
Gas Petrolimex: Maintaining Market Share and Enhancing Competitiveness
| PGC’s recent financial performance |
