**DNH Announces Cash Dividend for 2024 with a Lower Payout Ratio Compared to Previous Years**
DNH has recently announced a cash dividend for 2024 with a record date of December 13, 2024. With a payout ratio of 12% and approximately 422.4 million shares outstanding, the company is estimated to distribute nearly VND 507 billion as an interim dividend for 2024. The payment will be made starting from January 15, 2025.
As of June 30, 2024, EVNGENCO1, the parent company of DNH, holds a 99.93% stake and is expected to receive almost the entire dividend payout of nearly VND 507 billion.
Source: VietstockFinance
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Looking back at the company’s history of cash dividend payouts, the expected dividend payout ratio for 2024 is the lowest in over eight years. The decrease in the cash dividend payout ratio is likely due to the company’s current phase of repairing fixed assets and making significant investments.
DNH has registered a plan for major repairs in 2024, including 13 projects (10 new projects and 3 projects carried over from 2023) with a total disbursement value of nearly VND 39 billion and an accounting value of over VND 34 billion in expenses for the year 2024. In addition, the company also has a plan to purchase fixed assets worth nearly VND 37 billion in 2024.
Furthermore, in 2024, the company registered a disbursement plan for the expansion project of the Da Nhim Hydropower Plant and the Da Mi Solar Power Project, totaling more than VND 123 billion. According to DNH, the expansion project of the Da Nhim Hydropower Plant still has many unresolved issues, such as adjusting the project schedule, making payments to the supervision consultant, finalizing completed items, and addressing complaints and obstacles related to Contractor CC47.
| DNH’s Financial Results for the First Nine Months of 2024 |
In terms of business performance, DNH reported consolidated net revenue of over VND 1,323 billion and net profit of VND 505 billion for the first nine months of 2024, representing a decrease of 28% and 48%, respectively, compared to the same period last year. The company has achieved over 93% of its full-year profit target of VND 542 billion for 2024, which is a 51% decrease compared to the 2023 results.
