Viettel Post (ticker symbol: VTP), Vietnam’s leading postal and logistics company, has announced a 15% cash dividend for 2023. This equates to VND 1,500 per share, and the company plans to finalize the shareholder list and make payments in September-October 2024. With approximately 122 million shares outstanding, the total expected payout is nearly VND 183 billion.
As of Q2 2024, Viettel Post’s largest shareholder is the Military Industry and Telecoms Group (Viettel), holding over 74 million shares, or 60.84% of VTP’s capital. This stake is set to receive a dividend payout of VND 111 billion.
This dividend plan was approved by VTP’s Annual General Meeting in April this year. The company has committed to a 15% cash dividend for both 2023 and the projected dividend for 2024. Prior to this, during the 2018-2022 period, the company distributed dividends to shareholders in the form of cash and stocks.
On the market, VTP closed at VND 73,600 per share on September 12th.
In terms of business performance, Viettel Post recorded nearly VND 9,620 billion in revenue for the first half of 2024, a slight decrease from the same period last year. Net profit for the six-month period fell by 12% to VND 152 billion, achieving approximately 41% of the full-year profit plan. The company aims to increase its market share in the delivery sector to 19.5% by the end of 2024 and is also planning to develop a national logistics system.
Viettel Post has recently decided to invest and establish a subsidiary in Laos, named Viettel Post Laos Co., Ltd. The company will operate in the fields of delivery, warehousing, domestic and international freight forwarding, goods trading and services, e-commerce, import-export, and freight forwarding services in Laos. Viettel Post will contribute more than VND 136 billion, equivalent to 5.34 million USD, representing 100% of the charter capital.
