Thac Ba Hydropower continues to pay highest dividend

Friday, Aug 19, 2022 17:55

Thac Ba hydroelectric power plant in Yen Binh District, Yen Bai Province. — Photo

Thac Ba Hydropower JSC (HoSE: TBC) has closed the list to pay a cash dividend for the second period in 2021.

The company said that August 30 is the deadline for the list of shareholders receiving the second dividend of 2021 in cash at the rate of 15 per cent, meaning that a shareholder owning one share will get VND1,500.

With the number of outstanding shares of 63.5 million units, Thac Ba is expected to pay more than VND95 billion to shareholders, the expected payment date is September 23.

Previously, the company paid the first dividend in cash at the rate of 10 per cent.

With this payment, it completes the cash dividend to shareholders in 2021, with a total rate of 25 per cent. Therefore, the company has maintained the highest dividend payment since listing on the stock exchange. The company also paid a 25 per cent cash dividend for 2020 and 2017.

Thac Ba Hydropower is the operator of the Thac Ba hydroelectric project, under the Electricity of Vietnam (EVN). This is the first hydroelectric plant in the country.

Thanks to favourable hydrological conditions, in the second quarter of this year, the company achieved net revenue of nearly VND181 billion, a gain of more than 38 per cent on-year.

During the period, its cost of goods sold increased slightly by 6 per cent to more than VND48 billion, helping to improve the company’s gross profit margin from 65.4 per cent to 73.2 per cent.

Meanwhile, financial expenses declined by nearly 34 per cent to VND4.1 billion and administrative expenses rose 5.1 per cent to more than VND12 billion.

As a result, the parent company's profit after tax advanced by more than 54 per cent to nearly VND79 billion.

For the first half of the year, Thac Ba recorded a net revenue of VND348.4 billion, up 21.6 per cent. With targets of VND508.5 billion in net revenue and VND204 billion in profit after tax, the company has completed 68.5 per cent of the revenue plan and 93 per cent of the profit plan, respectively.

On the stock market, TBC's shares traded at VND32,750 per share. The company’s share prices dropped 2.2 per cent from its peak. — VNS

Comments (0)