The 2022 cash dividend payment of Dong Anh Electrical Equipment (TBD (HN:TBD) is 1.55 times higher than the total profit achieved in the same period. Dong Anh Electrical Equipment Corporation (Code TBD- UPCoM) announced that on November 27, it will close the list of shareholders receiving 2022 cash dividends at the rate of 20% (1 share receives 2,000 VND).
Payment date is 12/27/2023.
With 32.4 million shares in circulation, the amount TBD plans to spend on this dividend is nearly 65 billion VND.
It is known that Vietnam Electricity Group and Electrical Equipment JSC (a Gelex group enterprise) currently own 46.58% and 46.17% of TBD capital, respectively. VIX Securities (HM:VIX) after divestment currently owns 0.42% of capital.
Previously, in mid-September, VIX Securities sold 3.95 million TBD shares, reducing its ownership from 4,087,670 shares (12.61% ratio) to 137,465 shares (0.42% ratio). Based on the closing price of VND95,000, VIX earned approximately VND375 billion. The company is also no longer a major shareholder of Dong Anh Electrical Equipment after 4 months.
As for Dong Anh Electrical Equipment, in 2022, revenue decreased to VND 1,691 billion, profit after tax reached VND 41.7 billion. Thus, the amount of dividend paid this year is 1.55 times higher than the profit achieved.
By 2023, the company plans to have revenue and after-tax profit of VND 1,520 billion and VND 47.6 billion, respectively.
In the third quarter, the company recorded net revenue of VND256 billion - down 35% YoY; profit after tax reached VND6.4 billion - up 89%. In the first 9 months of the year, the company brought in VND928 billion in revenue and VND13.2 billion in profit after tax, down 11% and down 43% respectively.
