With an execution rate of 10% and over 210.5 million shares outstanding, SIP is estimated to pay out nearly VND 211 billion in advance dividends to shareholders. The expected payment date is December 25, 2024.
The 2024 Annual General Meeting of SIP approved a dividend plan for 2024 with a minimum rate of 10% of charter capital but did not specify whether it would be in cash or stock. In 2023, SIP distributed dividends to shareholders in cash and stock at rates of 16% and 15%, respectively, resulting in a total dividend rate of 31% of charter capital.
 Source: SIP
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As of September 30, 2024, 46.65% of SIP’s capital was owned by two large institutional shareholders and two large individual shareholders, Chairman Tran Manh Hung and General Director Lu Thanh Nha.
Thus, in this cash dividend advance, An Loc Urban Development and Investment Joint Stock Company and Nam Tan Uyen Industrial Park Joint Stock Company, with ownership ratios of 19.79% and 9%, respectively, are estimated to receive nearly VND 42 billion and VND 19 billion in dividends.
Meanwhile, Chairman Tran Manh Hung (SIP’s second-largest shareholder) and General Director Lu Thanh Nha pocketed nearly VND 22 billion and VND 16 billion, respectively.
| SIP’s Financial Results for the First Nine Months of Each Year |
In terms of business performance, for the first nine months of 2024, SIP recorded over VND 5,736 billion in net revenue and nearly VND 847 billion in net profit, up 20% and 37%, respectively, compared to the same period last year. The main source of revenue remains the provision of electricity and water utility services in industrial parks, with revenue of over VND 4,783 billion, a 20% increase.
Compared to the conservative plan for 2024, which targeted revenue of nearly VND 5,388 billion and after-tax profit of nearly VND 793 billion, SIP exceeded its annual plan by 7% and 14%, respectively, in just nine months.
Currently, SIP has over 1,000 hectares of commercial area available for lease across four industrial parks in Tay Ninh, Ho Chi Minh City, and Dong Nai. Among these, Phuoc Dong Industrial Park in Go Dau District, Tay Ninh Province, is the largest complex of industry, urban, and commercial space in Tay Ninh, spanning over 2,436 hectares, with more than 2,189 hectares dedicated to industrial production. The initial investment for this project was approximately USD 350 million.
Khang Di
