With a payout ratio of 27.2% (1 share receives VND 2,720) and nearly 114.4 million shares in circulation, CTR is estimated to spend over VND 311 billion in dividends to shareholders. The expected payment date is October 18, 2024.
Source: VietstockFinance
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Looking back at CTR’s dividend history (2015-2023), except for 2016 when no dividends were distributed, CTR has consistently paid out cash dividends to its shareholders in the remaining years, with a minimum of 8% (in 2021) and a maximum of 29.19% (in 2022).
Source: VietstockFinance
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As of June 30, 2024, the Vietnam Military Industrial and Telecoms Group (Viettel) is the parent company and the largest shareholder of CTR, holding 65.66% of its capital. Viettel is estimated to receive more than VND 204 billion in dividends from its subsidiary.
| CTR stock price movement from the beginning of 2024 to September 18, 2024 |
Reacting to the news of the cash dividend approval, in the morning session of September 18, CTR stock price surged to its daily limit, reaching VND 133,300/share. This session also witnessed a surge in trading volume with 986,100 shares traded, valued at over VND 129 billion, corresponding to VND 130,898/share. No matched orders were recorded for CTR shares.
| CTR’s Financial Results for the First Half of 2024 |
A quick look at CTR’s financial results for the first half of 2024 reveals that the company achieved over VND 5,632 billion in net revenue, a 12% increase compared to the same period last year. However, its financial activities incurred a loss of over VND 35 billion, while in the same period last year, it made a profit of over VND 7 billion. Additionally, the current income tax expense increased by 10% year-over-year, resulting in a modest 4% growth in net income, amounting to over VND 241 billion.
For the full year 2024, CTR forecasts a 3% increase in after-tax profit compared to 2023, reaching nearly VND 532 billion. The company has accomplished 45% of its annual profit target in the first half.
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