State-owned enterprise’s shares rise over 3,300% in a year, set to pay record dividend of 24% in June

Petrolimex Nghe Tinh Transportation and Services Joint Stock Company (PTX) will pay a 24% dividend for 2024 this June, equating to 2,400 VND per share, totaling around 15 billion VND. This is the highest dividend in the company’s history, exceeding the planned 10%. Despite a 9% decline in revenue for 2024, net profit rose 67% to nearly 20 billion VND, marking the highest profit in four years. In Q1 2025, revenue fell another 23%, but net profit increased 17%, achieving 26% of the annual profit target. PTX, a member of Petrolimex, has seen its shares rise 3,500% over the past year from 640 VND to 22,900 VND before adjusting to 21,900 VND.