Imexpharm Pharmaceuticals is about to pay 2023 dividends with a total rate of 20%. Illustration.
Joint Stock Company for Pharmaceuticals Imexpharm (IMP: MCK) has just announced the Board of Directors’ Resolution on the implementation of dividend payment for the year 2023.
Accordingly, IMP will distribute dividends at a total rate of 20%, including 10% in cash (equivalent to over 70 billion VND) and 10% in shares.
Regarding the dividend in shares, Imexpharm plans to issue more than 7 million shares (equivalent to 10% of the circulating shares) to pay dividends to shareholders at a rate of 10%, meaning that for every 10 shares held, shareholders will receive 1 new share.
The capital source comes from post-tax profit undistributed at the time of 31/12/2023 in the audited financial statements. The expected timeline for implementation is in the second-fourth quarters of 2024.
After this dividend payment, Imexpharm’s charter capital will increase to 770 billion VND.
The IMP Board of Directors has authorized the Chairman of the Board to decide on the record date for the 2023 dividend payment and to issue a resolution on the record date for the dividend payment after the issuance dossier is approved by the State Securities Commission.
In 2024, Imexpharm Pharmaceuticals (IMP) targets gross revenue of 2,630.1 billion VND and net revenue of 2,364.9 billion VND, up 24% and 19%, respectively, from the previous year. The goal is to achieve a 12% increase in pre-tax profit, reaching 423 billion VND.
In terms of revenue structure, Imexpharm plans to achieve a 12% growth in revenue from the OTC (over-the-counter) channel compared to the previous year. For the ETC (prescription) channel, the target growth is set at 49%.
Regarding business results, in the first quarter of 2024, IMP recorded net revenue of 491.1 billion VND, up 2.5% over the same period last year. However, the company’s post-tax profit decreased by 20.4%, reaching 61.9 billion VND.
Explaining the decrease in profit compared to the same period last year, IMP attributed it to fluctuations in the price of raw materials; market competition; and the official operation of the IMP4 factory (third quarter of 2023) leading to higher depreciation and operating expenses.
