On May 22, the State Securities Commission (SSC) announced that it had received a report on the issuance of bonus shares from Hoa Phat Group Joint Stock Company (HOSE: HPG).
The issuance plan is in accordance with the resolutions of the Annual General Meeting of Shareholders on April 17, 2025, the resolution of the Board of Directors on May 5, 2025, and relevant legal regulations.
Accordingly, the Board of Directors approved a dividend payout ratio of 20% in shares (shareholders owning 5 shares will receive 1 new share).
This plan replaces the previous proposal of a 5% cash dividend and a 15% stock dividend, which was put forward by Hoa Phat in late March 2025.
Hoa Phat decided to distribute dividends entirely in shares to ensure a defensive cash flow strategy amid global uncertainties, especially the US tax policy.
With approximately 6.4 billion shares currently in circulation, Hoa Phat will issue an additional 1.28 billion new shares, equivalent to a value of VND 12,793 billion based on the par value.
The source of funding for this issuance will come from undistributed post-tax profits as stated in the audited financial statements for 2024. The issuance is expected to take place in May, subject to the approval of the State Securities Commission.
Following the issuance, Hoa Phat’s charter capital will increase to VND 76,755 billion, making it the largest among non-financial enterprises listed on the stock exchange and second only to a few top banks.
In terms of business performance, Hoa Phat recorded over VND 37,900 billion in revenue and VND 3,300 billion in after-tax profit in the first quarter of 2025, up 22% and 16%, respectively, compared to the same period in 2024. The company has completed approximately 22% of its full-year revenue and profit targets.
During the first quarter, the Hoa Phat Group produced 2.66 million tons of crude steel, a 25% increase year-over-year. Sales volume of hot-rolled coil, high-quality steel, construction steel, and steel billets reached 2.38 million tons, a 29% increase compared to the first quarter of 2024.
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