AsemconnectVietnam - Implementing the Resolution of the 2024 General Meeting of Shareholders, Long Hau Joint Stock Company (code LHG - HOSE) will pay dividends in August 2024 with a total amount of more than VND95 billion.

Long Hau has just approved the 2023 dividend payment plan at a rate of 19%, corresponding to shareholders owning 1 share will receive VND1,900 and the expected start time for dividend payments is August 2024.
With more than 50 million outstanding shares, it is estimated that Long Hau will pay a total of more than VND95 billion.
In terms of business activities, in the first quarter of 2024, Long Hau recorded revenue of VND76.25 billion, down 34.1% over the same period, profit after tax recorded VND31.45 billion, down 32.3% over the same period. Of which, gross profit margin improved from 50.5% to 53.3%.
During the period, gross profit decreased by 30.4% over the same period, corresponding to a decrease of VND17.78 billion, to VND40.64 billion; Financial revenue increased slightly by 3.7%, equivalent to an increase of VND0.59 billion, to VND16.74 billion; Financial expenses increased by 10.8%, equivalent to an increase of VND0.36 billion, to VND3.7 billion; Sales and corporate management expenses increased by 10%, equivalent to an increase of VND1.29 billion, to VND14.23 billion and other activities did not fluctuate significantly.
Thus, other activities fluctuated insignificantly, Long Hau's profit in the first quarter of 2024 decreased mainly due to a sharp decline in revenue.
In addition, Long Hau disclosed a sharp decline in revenue mainly due to revenue from leasing land with developed infrastructure and ready-built factories as required, decreasing from VND53.9 billion, to only VND0.17 billions.
In 2024, Long Hau sets a business plan with total revenue of VND743.7 billion, expected profit after tax of VND131.46 billion. Thus, ending the first quarter of 2024 with a profit of VND31.45 billion, Long Hau completed 23.9% of the profit plan of VND131.46 billion.
N.Nga
Source: VITIC/Tinnhanhchungkhoan