Thereby, the closing date of the list is July 10 and the payment date is July 27. With 529.4 million outstanding shares, DCM plans to spend VND 423.52 billion to pay dividends to shareholders.
DCM has announced its financial statements for the first quarter of 2021 with revenue of VND 1.9 trillion, increased by 39.1% over the same period; After tax profit after minority interests gained VND 151 billion, increased by 65.4% over the same period. The strong growth in income statement in the first quarter of 2021 came from the increase in urea price and sales that offset the impact of higher input gas costs. The average global urea price increased by 44% over the same period. The Nation’s Winter-Spring crop lasts long, farmers connect the crop continuously, helping to good fertilizer consumption output.
It is remarkable that DCM's urea export revenue tripled to VND 400 billion strongly supports the company's income statement in the first quarter. At the same time, in the first quarter of 2021, DCM's interest expense decreased by 77.4% over the same period when DCM actively paid off its debts gradually.
At the last Annual General Meeting of Shareholders in 2021, shareholders approved DCM's 2021 plan with a total revenue of VND 7.8 trillion; pre-tax profit of 210 billion Vietnamese dong; after tax profit is 197.4 billion Vietnamese dong. DCM's 2021 after-tax profit target is 4 times higher than the 2020 plan but much lower than the company's operating result in 2020. Experts evaluate that this result thanks to DCM often shows its cautious view in setting business plans.
DCM's General Meeting of Shareholders also approved the cash dividend distribution plan in 2021 at the rate of 5% of authorized capital, equivalent to VND 500/share. In particular, DCM leaders also note that the distribution of after-tax profits in 2021 depending on the company's business situation that will be adjusted to the appropriate plan and approved by the 2022 Annual General Meeting of Shareholders.
Viet Capital Securities Joint Stock Company (VCSC) is currently providing DCM with the " Positive" recommendation with a target price of VND19,400/share (total contingency rate of return of 18.8%, including dividend yield of 4.7%). DCM shares are currently trading at the price of 17,000 VND/share (May 28).
Mai Phuong