Petrolimex to pay 2024 dividend in cash. Illustrative photo
Accordingly, Petrolimex will pay cash dividends at a rate of 12% (1 share receives 1,200 VND). Dividend payment date is June 24. Last registration date is June 11.
With more than 1.2 billion shares in circulation, Petrolimex is expected to spend more than VND1,500 billion to pay dividends to shareholders. Of which, the State Capital Management Committee at Enterprises holding more than 77% of capital at PLX will receive more than VND1,170 billion.
At the end of the first quarter of 2025, PLX recorded net revenue of nearly VND 67,896 billion, down nearly 10% compared to the same period in 2024; PLX's after-tax profit in the first quarter of 2025 reached VND 211 billion, down 81% compared to the same period; the parent company's profit also decreased by 88%, to VND 133 billion.
PLX said that the sharp decrease in first-quarter profits was mainly due to difficulties in petroleum trading due to global market developments. Specifically, the price of WTI crude oil fell from 77.8 USD/barrel at the beginning of the quarter to 67.04 USD/barrel at the end of the quarter. This directly affected the cost of goods sold and led to an increase in provisions for inventory depreciation.
In 2025, PLX targets a 13% decrease in consolidated revenue to VND248,000 billion and a 19% decrease in consolidated pre-tax profit to VND3,200 billion. With a pre-tax profit of VND358 billion after 3 months, PLX has only completed more than 11% of the annual profit target.
As of March 31, 2025, Petrolimex's total assets recorded a slight decrease of 1.5% compared to the beginning of the year, to VND80,035 billion. On the other side of the balance sheet, Petrolimex's liabilities were at VND50,515 billion, down 2.8% compared to the beginning of the year. PLX's financial debt alone increased sharply by 15.4% compared to the beginning of the year, to VND20,055 billion.
Source: https://baovanhoa.vn/kinh-te/petrolimex-plx-sap-tra-co-tuc-nam-2024-ti-le-12-140019.html
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