The Golden Opportunity: Unlocking a Windfall for Shareholders

On October 3, Phu Nhuan Jewelry Joint Stock Company (PNJ) will finalize its shareholder list to carry out the second 2023 dividend payment in cash. The payment ratio is 14%, meaning that for every 1 share owned, shareholders will receive VND 1,400.

PNJ plans to disburse dividends to shareholders just 13 days after finalizing the list, on October 16. With nearly 335 million listed and traded shares, PNJ will spend approximately VND 470 billion on dividend payments.

Previously, in April, PNJ had paid the first 2023 dividend installment in cash, with a 6% ratio. Thus, with the completion of the upcoming payment, PNJ’s total dividend payout for 2023 will be 20% – in line with the plan approved at the annual general meeting of shareholders. According to the plan, the expected dividend ratio for 2024 remains at 20%.

In terms of business operations, PNJ announced its financial results for the first eight months of 2023, with net revenue of VND 26,866 billion, up over 27% compared to the same period last year, and completing 72% of the full-year plan.

In the revenue structure for the eight-month period, retail jewelry sales recorded approximately VND 14,239 billion, a 15% increase from the previous year due to the expansion of the store network and the introduction of jewelry products that cater to customer preferences. Revenue from 24K gold ranked second, estimated at nearly VND 9,914 billion.

On the other hand, wholesale jewelry revenue reached approximately VND 2,472 billion, a 28% increase from the previous year, as wholesale customers shifted their demand towards established and well-organized manufacturers.

As a result, net profit after tax for the eight-month period was VND 1,281 billion, a nearly 3% increase from the previous year, and completing 61% of the full-year target.

During this period, PNJ opened 24 new stores and closed 10, bringing the total number in its system to 414. Specifically, PNJ has 405 PNJ stores, 5 Style by PNJ outlets, 3 CAO Fine Jewellery business locations, and 1 wholesale business center.

In the market, at the close of the trading session on September 19, PNJ shares were priced at VND 98,900/share.