PVMachino (PVM) closes the list of shareholders receiving cash dividends

Company information
icon date22/07/2023

PetroVietnam Machinery – Equipment Joint Stock Company PVMachino has closed the list of shareholders receiving cash dividends on October 4th.

PVMachino closes the list of shareholders paying dividends in 2020.

PVMachino closed the list of shareholders paying dividends on October 4 and paid on October 27.

Accordingly, the company is expected to pay a dividend in 2020 at the rate of 10% of shareholders who own a share will receive 1,000 VND. Thus, with 38.6 million shares outstanding, it is estimated that the company will pay a total of VND38.6 billion.

In the second quarter of 2021, PVMachino recorded a revenue of over VND 222.7 billion, up 135% over the same period in 2020. However, cost of goods sold also increased by 135%, resulting in profit margin remaining unchanged at level 4.3%.

In the last period, revenue from financial activities, mainly dividends and distributed profit, was recorded at VND 40 billion, down 29% over the same period, but continued to contribute the majority of net profit from operating activities. business activities of the enterprise.

Currently, PVMachino owns 100% of capital in Saigon Oil and Gas Equipment Co., Ltd., 49.78% of capital in Da Nang Machinery – Equipment Joint Stock Company. On the other hand, thanks to the savings in corporate administration costs, which was only 1/4 of the same period last year, PVMachino recorded VND 31.3 billion in profit after tax, up 123%.

Accumulated in the first 6 months of 2021, the business has achieved over 354.5 billion dong in revenue and 32.3 billion dong in profit after tax, up 26% and 46% respectively over the same period.

In 2021, PVMachino has set a goal of bringing in revenue of VND 1,005 billion and profit after tax of VND 50 billion. With the above results, after half a year, the business completed 35.4% of the revenue target and 64.6% of the profit target.

Closing the session on September 21, PVMachino’s stock decreased by 500 dong to 21,600 dong/share.

Reportedly, in the first quarter of 2018, the company’s revenue reached VND 172 billion, down half from VND 323.4 billion in the first quarter of 2017.

However, thanks to 14.4 billion dong of financial revenue, net operating profit still reached 7.5 billion dong, 3 times higher than the first quarter of last year. As a result, the profit after tax in the first quarter of 2018 reached VND 6.99 billion, up 136% compared to VND 2.96 billion in the first quarter of 2017.

In a written explanation sent to the Securities and Exchange Commission about the fluctuations in revenue and profit in the first quarter of 2018 compared to the same period in 2017, PVM explained that the reason for the increase in profit was because the profit from financial activities was higher than the same period last year. However, the company did not explain why the revenue halved over the same period.

PVMachino has a charter capital of 386.38 billion VND, 51% is held by the State, represented by PetroVietnam Power Corporation.

Responding to a question from shareholders at the recent Annual General Meeting of PVMachino, a representative of PV Power said that the Corporation will withdraw all of its capital from PVM on UPCoM in 2018 by order matching method and is choosing a time. better market to be able to divest at a good price.

Currently, PVMachino is managing and using many valuable land plots such as 1,827 m2 of land at 8 Trang Thi (Hoan Kiem, Hanoi) and 1,500 m2 of land at 25 Hung Vuong Street (Mong Cai, Quang Ninh).

In addition, the Company also entered into joint ventures with partners to exploit many other golden lands such as a joint venture with Hanoi Transport Corporation to exploit house plots No. 1, 3, 5 Dinh Tien Hoang (Hoan Kiem), Hanoi), or a joint venture with the Hanoi Department of Commerce to exploit the land lot number 7 Dinh Tien Hoang.

PVM is also managing a large plot of land in a very nice location in Dong Anh, previously using joint venture capital with Japanese partners such as Honda, Itochu Corporation, Showa Corporation, FCC, Nippon Seiki, Asia Motor,v.v to manufacture spare parts for automobiles, motorcycles, specialized vehicles and other machines.

This joint venture annually brings PVM a cash dividend of about VND 70-100 billion.

Payout rate 10%

According to the above list, PetroVietnam Machinery and Equipment Joint Stock Company PVMachino has approved the implementation of the plan to pay dividends to shareholders. Accordingly, on October 4, the list of shareholders will pay the 2020 dividend in cash at the rate of 10% and the payment time will be October 27, 2021.

In 2020, PVMachino achieved VND 628 billion in revenue, only 38.2% of the revenue of VND 1,643 billion achieved in 2019.

However, thanks to the decrease in capital expenditure, the profit after tax for the whole year reached more than VND 50 billion, up 8.6% over the same period and completing, exceeding 1% of the adjusted profit target for the year, the EPS reached 1,289 VND.

With the results achieved, PVMachino has approved the profit distribution plan for 2020 in which a cash dividend of 10% is paid. Thus, after this payment, the company has fulfilled its 2020 dividend obligation for shareholders.