HBS recently announced that August 29, 2023, will be the record date for a cash dividend payment and a written ballot. The ex-date, or the date on which the stock will trade without the dividend, is August 28.
In terms of the dividend payment, HBS plans to distribute a dividend of 2,000 VND per share, equivalent to a dividend payout ratio of 20%. The expected payment date is September 12, 2024. With almost 33 million outstanding shares, Hòa Bình Securities is expected to pay out nearly 66 billion VND for this dividend. The source of the dividend payment will come from the company’s remaining profit after tax, according to their business performance.
Additionally, the securities company is seeking shareholder approval via a written ballot to dismiss and elect new members to the board of directors for the 2023-2028 term. The expected date for sending out the ballots is September 10, 2024. The company will be collecting the ballots from September 10 to 4:30 pm on September 30.
HBS will be seeking shareholder approval to dismiss Mr. Le Tien Dung, Vice Chairman and Member of the Board of Directors, due to his resignation for personal reasons. The company will elect one new member to the board of directors, with Mr. Nguyen Phan Trung Kien as a candidate. Furthermore, Hòa Bình Securities is also seeking approval to dismiss Mr. Nguyen Ba Tuan, a member of the Supervisory Board, due to his resignation. The company will elect one new member to the Supervisory Board, with Mr. Truong Duy Phong as a candidate.
On the stock market, HBS’s share price surged to the ceiling price and even faced a selling shortage during the morning session of August 12, reaching 10,300 VND per share, a 9.57% increase. This is also the highest price the stock has seen in almost a year. Since the beginning of the year, HBS’s market price has increased by more than 27%.
In terms of business performance in Q2 2024, Hòa Bình Securities recorded revenue of over 8 billion VND, a 155% increase compared to the same period last year. This includes a profit of 2.6 billion VND from financial assets measured at fair value through profit or loss (FVTPL), four times higher than the previous year. After deducting expenses, HBS reported a pre-tax profit of nearly 5 billion VND, a 15% decrease compared to Q2 2023. For the first six months of 2024, the company’s pre-tax profit was nearly 10.5 billion VND, a slight decrease of 7% compared to the same period last year.
