Accordingly, GDA plans to issue nearly 23 million shares, a 20% ratio – equivalent to shareholders owning 5 shares will receive 1 new share. The capital source is from the undistributed post-tax profit on the 2023 audited financial statements (over VND 1,630 billion).
The time of implementation is within 45 days from the date of approval of the State Securities Commission for the issuance of shares to pay dividends, expected to be completed in Q4/2024 or Q1/2025.
If successful, Dong A Steel will increase its charter capital from nearly VND 1,147 billion to over VND 1,376 billion, equivalent to more than 137.6 million shares.
Previously, in 2022, the company paid a dividend in cash at a rate of 10%. In 2024, Dong A Steel plans to distribute dividends at a maximum rate of 30%, of which 10% in cash and 20% in shares, with the expected implementation time in 2025-2026.
Since becoming a joint-stock company in 2009, Dong A Steel has conducted 13 capital increases, from VND 120 billion to VND 1,147 billion in 2022.
 Source: GDA
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Notably, GDA shares were only listed on UPCoM about 1 year ago on September 7, 2023, with a reference price of VND 30,000/share. In the morning session of September 20, GDA shares were trading around VND 27,700/share, up nearly 10% compared to the beginning of the year, with an average liquidity of more than 198,000 shares/session.
In terms of business results, in the first half of 2024, Dong A Steel recorded net revenue of over VND 10,000 billion, up 16% over the same period; net profit reached nearly VND 267 billion, up 31%.
For the 2024 fiscal year, the Company sets a target of total sales volume of 780,000 tons, up 0.6% over the previous year. The revenue target is VND 18,000 billion and profit after tax is VND 300 billion, up 3.2% and 5.6% respectively compared to the previous year. Compared to the above profit plan, GDA achieved 89%.
GDA’s management also revealed that the Company had achieved 58% of the volume plan in the first 6 months, with sales volume of about 445,000 tons.
Dong A Steel exceeds 6-month volume plan, prepares to build a new factory
