Agribank Securities announced that October 3rd would be the ex-dividend date for a 7% cash dividend payout for 2023, equivalent to VND 700 per share. The payment date is expected to be October 18th, 2024.
With approximately 215.4 million outstanding shares, AGR is estimated to distribute nearly VND 151 billion in this dividend payout.
As of the end of the second quarter of 2024, the State Bank of Vietnam for Agriculture and Rural Development (Agribank), the parent company, held over 161 million AGR shares (74.92% of capital) and is expected to receive nearly VND 113 billion in dividends.
Regarding business performance in the first half of 2024, Agriseco’s operating revenue exceeded VND 214 billion, up 25% year-on-year. After deducting expenses, AGR reported a 28% decline in pre-tax profit to approximately VND 77 billion.
According to the explanation letter, AGR attributed the growth in total revenue to the positive performance of its brokerage, proprietary trading, and lending businesses. However, intensifying market competition led to a decline in profit margins, particularly an 8% decrease in average brokerage fees compared to the previous year. Additionally, AGR did not benefit from bad debt recovery as it did in the same period last year, resulting in a significant drop in post-tax profit compared to 2023.
In the market, AGR shares have shown a slight recovery recently. Currently, the share price stands at VND 18,400 per share, representing a 20% decline over the past three months.
