Mineral Joint Stock Commercial Bank (MJSCB) has announced a cash dividend payout of 13%, equivalent to VND 1,300 per share. With 105 million shares currently in circulation, the company is expected to spend nearly VND 137 billion on this dividend payout. The expected payout date is July 10, 2024.
Currently, the Vietnam National Coal-Mineral Industries Group (Vinacomin) is the parent company of MJSCB, holding over 103.1 million shares, or 98.194%. Vinacomin is expected to receive approximately VND 134 billion in dividends.
MJSCB also announced that the Prime Minister-approved restructuring plan of Vinacomin maintains the group’s current contribution ratio to MJSCB.
Since its listing on the HNX in 2020, MJSCB has consistently paid cash dividends with a ratio ranging from 10% to 16%.
Source: VietstockFinance
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In terms of business performance, for 2024, MJSCB set a target for the parent company with total revenue of over VND 2,436 billion and after-tax profit of nearly VND 241 billion, up 2% and 13% respectively compared to the actual performance in 2023.
Specifically, the targets for raw coal output, rock excavation, clean coal production and import, and coal consumption are set at 1,126 thousand tons, 9,970 thousand cubic meters, and 1,400 thousand tons, respectively. MJSCB plans to distribute dividends for 2024 with a minimum ratio of 9%.
For the first quarter of 2024, MJSCB recorded consolidated net revenue of over VND 1,171 billion and net profit of over VND 46 billion, down 6% and 30% respectively compared to the same period in 2023. The company attributed this decrease to reduced sales volume, along with increased cost of goods sold, leading to lower profits.
| MJSCB’s Financial Results from Q1/2022 – Q4/2024 |
During the morning session on May 31, MJSCB’s share price traded around VND 21,000 per share, up 1% since the beginning of the year, with an average liquidity of nearly 2,000 shares per session.
