PV Gas allocates $553.2m for cash dividend

A LNG storage tank of PV Gas. — Photo pvgas.com.vn

HÀ NỘI — PV Gas recently announced a dividend payout of 60 per cent in cash and bonus shares at a ratio of 50:01 in September. 

The deadline for shareholder list registration to receive the 2023 dividend payout in cash and bonus shares is September 16. The ex-dividend date is September 13.

PV Gas will distribute the 2023 cash dividends on November 28. With around 2.3 billion outstanding shares, PV GAS will allocate over VNĐ13.78 trillion (US$553.2 million) for this dividend distribution.

PetroVietnam is the largest shareholder of PV GAS, owning nearly 2.2 million shares, representing 95.76 per cent of the company’s capital. The group is set to receive nearly VNĐ13.2 trillion in dividend payments.

PV GAS also plans to issue up to 45.9 million bonus shares at a 50:01 ratio, meaning each shareholder owning one share receives one purchase right, and for every 50 purchase rights, an additional new share will be granted.

The capital for issuance is sourced from the development investment fund, valued at VNĐ23.7 trillion as of December 31, 2023, according to the company’s audited separate financial report for 2023.

In the consolidated financial report for the second quarter of this year, the fund’s value rose to over VNĐ27.4 trillion.

PV Gas, a major player in the gas industry, continues its robust growth. 

In the second quarter, the company achieved over VNĐ30 trillion in consolidated revenue, up 25 per cent year-on-year. 

Its gross profit margin improved from 18 per cent to 19 per cent, while profit after tax reached VNĐ3.4 trillion, up by 7 per cent.

During the first half of the year, PV GAS saw a total revenue of nearly VNĐ53.4 trillion, an 18 per cent increase from the first half of 2023, with the profit down by 10 per cent to about VNĐ6 trillion.

In 2024, the company’s shareholders approved a plan for total consolidated revenue of nearly VNĐ70.2 trillion and a profit before tax of VNĐ7.2 trillion. — VNS