Ho Chi Minh City Technical Infrastructure Investment Joint Stock Company (HOSE: CII) announces that its Board of Directors has approved an adjustment to the dividend payment date.
According to CII, the adjustment is necessary due to several important matters in the fourth quarter of 2024.
Specifically, one of the company’s subsidiaries is expected to receive approval for a real estate project with a total investment of nearly VND 5,000 billion. The project includes 2,160 apartments and shophouses, 81 villas, and various amenities such as kindergartens, elementary schools, ecological gardens, medical facilities, BBQ areas, children’s playgrounds, swimming pools, and gyms.
Additionally, on October 21, 2024, CII’s bonds with the code CIIB2124002 will mature, with a face value of VND 500 billion. The company stated that it must make every effort to avoid delays in the repayment of the principal and interest on the bonds.
It is known that the CIIB2124002 bonds have a total issued face value of VND 500 billion, issued on October 21, 2021, and will mature on October 21, 2024. The term is 3 years, with interest paid every 3 months at a rate of 9.5%/year. These bonds are non-convertible, non-warrant, and unsecured.
To focus on investing in the real estate project and repaying the maturing bonds, Ho Chi Minh City Technical Infrastructure Investment Joint Stock Company will postpone the dividend payment date to the beginning of the fourth quarter of 2024 to the following quarters. The company also plans to increase the dividend payout ratio in the subsequent periods to compensate for the unpaid dividend in the fourth quarter of 2024.
Recently, CII also approved a plan to offer public bonds with the code CIIB2426001 to raise VND 300 billion. The bonds have a term of 2 years, an interest rate of 10%/year, and the registration period is from September 24 to 11:15 am on October 14, 2024.
The CIIB2426001 bonds are non-convertible, non-warrant, unsecured, and the proceeds will be used to partially or fully repay the principal of the CIIB2124002 bonds.
Additionally, CII announced a public offer to purchase 5 million NBB shares at a price of VND 25,488 per share. The offer will be financed by CII’s equity, loans from organizations, borrowed margin loans, and other legal sources. As a result, CII will spend VND 127.44 billion to acquire these shares.
The offer period is from August 19, 2024, to October 1, 2024.
In the first half of 2024, CII recorded total assets of VND 35,673 billion and equity of VND 9,430 billion. Reviewed after-tax profit reached VND 443.5 billion, a decrease of 1.9% compared to the figures announced in the financial statements before the review.
According to CII, compared to the same period last year, the reviewed after-tax profit for the first half of 2024 increased by VND 325.6 billion (after-tax profit for the first half of 2023 was VND 117.9 billion). This increase was mainly due to higher net profit from the BOT Trung Luong – My Thuan project (BOT Trung Luong – My Thuan Joint Stock Company has been a subsidiary of CII since Q4/2023) and higher financial income from cumulative financial benefits of the Ca Na Toll Station project – Km 1584 +100, National Highway 1 – Ninh Thuan Province, implemented by Ninh Thuan BOT One-Member Limited Liability Company.
At the close of the trading session on September 25, CII’s stock price increased by VND 400 to VND 15,500 per share.
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