The expected start date of dividend payment is April 14, 2023.

On March 29, Vietnam Electric Cable Corporation (stock code: CAV) will close the list of shareholders exercising the second dividend advance in 2022 in cash.

Accordingly, CAV will advance the second dividend in 2022 in cash at the rate of 20%, equivalent to shareholders holding each stock will receive VND 2,000. The expected start date of payment is April 14, 2023.

With nearly 57.5 million stocks outstanding, CAV will spend about VND 115 billion to pay this dividend. Previously in November 2022, the company also paid the first dividend 2022 in cash at the rate of 20%. Thus, the company has advanced the 2022 dividend with a total rate of 40%.

Currently, the shareholder structure at CAV recognizes the Gelex Electric parent company (stock code: GEE) – a member of Gelex Group Joint Stock Company (GEX) – holding 96.61% of charter capital. Accordingly, GEE will receive more than VND 111 billion in dividends from its subsidiary.
At the beginning of 2023, Gelex Electric conducted a public offer to buy 2.1 million CAV stocks to hold 100% of the company’s charter capital. However, by the end of the offering (February 28), GEE only bought more than 64,000 stocks, thereby increasing its ownership rate from 96.5% to 96.61% at current.

Regarding the business situation, for the whole year of 2022, CAV’s net revenue reached VND 11,334 billion and profit before tax was more than VND 482 billion, increasing 8% and 14% respectively compared to the performance in 2021. Compared to the plan, the company has completed 94% of the revenue target and 92% of the profit target.

On the market, CAV stocks closed on March 8 at VND 55,000/stock.