**VPID Pays 15% Interim Dividend for FY2024**
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| VPID-led Song Lo II Industrial Park Project with a total investment of over VND 1,500 billion. Illustration |
The Board of Directors of VPID has also set December 16 as the ex-dividend date for the 2024 interim dividend of 15% in cash (VND 1,500 per share). The company currently has nearly 35.9 million shares in circulation and is expected to pay out nearly VND 54 billion. The expected payment date falls between December 25, 2024, and January 15, 2025.
As of September 30, 2024, the foreign fund America LLC (headquartered in Bahamas) was the largest shareholder, owning 17.48% of VPID’s capital and expected to receive VND 9.4 billion in dividends. Following that, Chairman of the Board of Directors of VPID, Hoang Dinh Thang (12.46%) will receive VND 6.7 billion, Vice Chairman Trinh Viet Dung (7.96%) will receive VND 4.3 billion, and Van Phung Ha (4.74%) will receive VND 2.5 billion.
Since its listing on the HNX in 2010, VPID has consistently paid dividends to its shareholders in cash and shares. In the last four years (2020-2023), the total dividend ratio ranged from 25% to 35%, with 2023 seeing a dividend of 30% (including 15% in cash and 15% in shares) and a plan to maintain the same for 2024.
After the cash dividend payment, VPID has at least one more dividend payment for the remaining period of 2024, with a ratio of 15% in shares, to complete the proposed plan.
In terms of business performance, for the 2024 fiscal year (October 1, 2023 – September 30, 2024), VPID’s net profit reached VND 133.5 billion, a 28% decrease from the previous year, mainly due to a decline in financial revenue as investment funds decreased. Additionally, profits from the joint venture company also decreased compared to the previous period. However, the company exceeded its profit target by 7%. It is noteworthy that the profit plan for the 2024 fiscal year was only 79% of the actual performance in the 2023 fiscal year.
| Business Results of VPID |
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As of the end of September 2024, VPID’s total assets exceeded VND 1,880 billion, including over VND 300 billion in bank deposits. Additionally, the company held a securities portfolio worth nearly VND 17 billion at purchase price (temporarily up 29%), mainly consisting of SHB shares with an original value of over VND 10 billion (down 2%) and DC4 shares with an original value of VND 3.7 billion (up 164%).
Previously, at the 2024 Annual General Meeting of Shareholders, VPID’s leaders commented that, in the medium and long term, industrial real estate is expected to slow down due to challenges in meeting labor demands. As such, the company aims to diversify into financial investments to ensure long-term profitability.
In the stock market, IDV shares traded at VND 37,400 per share in the afternoon session of November 18, equivalent to the mid-September 2024 level, and up nearly 18% since the beginning of the year.
| IDV Share Price Movement since the Beginning of 2024 |
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