“A Company is About to Pay a Jaw-Dropping 65-Bagger Dividend in Cash”

Hai Riverso Joint Stock Company (code: CPH) has just announced that the ex-dividend date for the 2024 cash dividend is May 16, 2025. The payout ratio is 19.6% (equivalent to VND 1,960/share). In the market, CPH is trading at around VND 300/share, equivalent to a dividend yield of 6.5 times the share price.

With 4.4 million shares outstanding, the company expects to pay out nearly VND 8.6 billion for this dividend.

Hai Riverso: The Only Listed Funeral Service Provider

Hai Riverso, or CPH, is a unique company on the stock exchange in that it operates in the distinct business of funeral and cremation services. The company was transformed from a State-owned enterprise to a Joint Stock Company, with the State holding 64.5% of its charter capital since June 2, 2015, according to Decision No. 1068/QD-UBND dated May 21, 2015, of the Haiphong People’s Committee.

CPH provides a range of services related to funeral arrangements, cremation, burial, transportation, and cemetery management. They also supply goods and services required for funeral ceremonies.

With consistent annual financial performance, the company has maintained a steady cash dividend policy, distributing 15-20% of profits to shareholders annually.

The company has a concentrated shareholder structure, with the Haiphong People’s Committee holding 64.5%. Another major shareholder is Hoang Phat Construction and Trading Investment Company, with a 10% stake. The remaining shares are held by individual investors.

Chairman’s Monthly Income Exceeds VND 100 Million

In 2024, CPH recorded net revenue of nearly VND 152 billion, a 15% increase compared to 2023, and the second-highest in the company’s history. After expenses, the company’s net profit was VND 10.8 billion, a nearly 6% increase from the previous year.

The income of the company’s leaders also improved during this period. Notably, Mr. Nguyen Hong Le, the Chairman of the Board of Directors, earned over VND 1.3 billion, equivalent to VND 109.5 million per month.

The second-highest income earner was Mr. Vu Van Phong, a member of the Board of Directors and Vice Chairman, with nearly VND 713 million (approximately VND 59.4 million per month). This was closely followed by Mr. Pham Xuan Thu, a member of the Board of Directors and CEO, with almost VND 698 million (around VND 58 million per month). Other key earners include Ms. Nguyen Thi Hai Yen, the Head of the Inspection Board, with over VND 642 million, and Mr. Nguyen Huu Long, the Vice Chairman, with nearly VND 607 million.

2025 Prospects: Revenue Target of VND 120 Billion, 9,000 Cremation Cases, and 50 Burial Cases

For 2025, CPH sets a revenue target of VND 120 billion, a 22% decrease compared to the actual performance in 2024. The company expects to maintain a net profit of nearly VND 11 billion. In terms of caseload, they aim for 9,000 cremations and 50 burials.

The management of CPH acknowledges the challenges they face, including intensifying competition as neighboring provinces invest in additional cremation furnaces. Additionally, unstable economic growth affects the demand for funeral services in Haiphong.

To address these challenges, the company plans to expand and diversify its funeral-related product offerings, particularly focusing on premium urn and tomb stone products.