Happy as Petrolimex Shareholders (PLX): Just received 1,500 billion VND dividend, plus two consecutive sessions of stock price hitting ceiling

At Vietnam National Petroleum Group (Petrolimex), PLX shares have seen two consecutive sessions of hitting the ceiling, reaching 40,300 VND/share, the highest in three months, with a trading volume of 5.7 million shares. After the tax shock in April, PLX has rebounded nearly 35%, with a market capitalization of 51.2 trillion VND. On June 11, Petrolimex announced a cash dividend for 2024 at a rate of 12%, equivalent to 1,200 VND per share, with a total payout of about 1,500 billion VND, expected to be paid on June 24. The company aims for a consolidated revenue of 248 trillion VND in 2025, an 87% increase compared to 2024, with a target pre-tax profit of 3.2 trillion VND. However, in Q1 2025, revenue decreased by 9.6% year-on-year, and pre-tax profit dropped by 75.1%, completing only 27.4% of the revenue plan and 11.2% of the profit plan.