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Positive business results, DNSE plans to pay 5% cash dividend 

 Saturday, April 13,2024

AsemconnectVietnam - DNSE Securities Joint Stock Company has just announced the 2024 Annual General Meeting of Shareholders meeting documents, expected to pay cash dividends at a rate of 5% and set a profit target of double the previous year.

The 2024 Annual General Meeting of Shareholders of DNSE Securities is expected to take place on April 16, 2024 in online and in-person form at Novotel Hanoi Hotel - No.2 Thai Ha, Hanoi.
According to the business plan submitted to the Congress, in the most positive scenario (scenario 3), DNSE sets the target for total revenue in 2024 (including operating revenue, financial revenue and other revenue) at VND1,390 billion, corresponding to an increase of 88% compared to the previous year. In the remaining two scenarios, DNSE expects to reach VND1,119 billion in total revenue (scenario 1), an increase of 51%; and VND868 billion, corresponding to an increase of more than 17% in the less positive scenario (scenario 2).
Regarding profits, DNSE plans a maximum profit after tax of VND445 billion (scenario 3), nearly double that of 2023. In scenario 2, the minimum profit after tax is VND170 billion, a decrease of 26% and the same scenario. The remaining version (scenario 1) is VND335 billion, an increase of 46%.
Looking back at business results in 2023, DNSE achieved positive results with operating revenue of VND714.5 billion, an increase of 58% compared to 2023; Profit after tax reached 229 billion VND, 3 times higher than 2022.
Notably, regarding the profit distribution plan, the DNSE Board of Directors will submit to the Congress a plan to pay dividends in cash at a rate of 5% of charter capital, equivalent to VND165 billion. Payment time must not exceed 6 months from the end of the Annual General Meeting of Shareholders.
In 2022, DNSE will also pay dividends to shareholders in cash at a rate of 2%.
DNSE also plans to list the stock code DSE on HOSE in 2024. Recently, on March 12, 2024, the Ho Chi Minh City Stock Exchange. Ho Chi Minh City also announced to receive applications to list 330 million shares of DNSE Securities, equivalent to a charter capital of 3,300 billion VND.
Previously, DNSE successfully completed the initial public offering of 30 million shares at a price of 30,000 VND/share. Temporarily calculated based on the selling price of the IPO, DNSE's capitalization value will reach VND9,900 billion when listed on HOSE.
According to DNSE, the market P/E valuation is expected to improve from 13.9 (end of 2023), to 15.1 and EPS growth at 15%. Therefore, the reasonable point range for VN-Index in 2024 is in the range of 1,295-1,357. This growth is supported by many positive macro factors. Therefore, the profits of listed businesses are expected to grow by about 15% in 2024. To seize the opportunity and achieve the set plan, DNSE's Board of Directors intends to take advantage of the pioneering product ecosystem on technology in securities and a multi-channel customer access network, to attract a new wave of investors and seize growth opportunities.
Source: VITIC/Tinnhanhchungkhoan


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