Phu Nhuan Jewelry JSC (PNJ) has recently added a proposal to buy back a maximum of approximately 8 million shares to protect shareholders amidst fluctuating stock market conditions. PNJ plans to use capital from surplus equity and undistributed profits for this operation, estimated to cost over 570 billion VND based on the current share price. The PNJ stock has recently oscillated significantly but has shown recovery in the last few sessions.
PNJ also proposed a revenue target for 2025 of 31.607 trillion VND, a decrease of 17% compared to 2024, with a projected profit of 1.960 trillion VND, down 7%. The company’s leadership anticipates challenges in the jewelry industry due to rising gold prices and decreasing purchasing power. Despite these challenges, PNJ continues to invest and expand.
The Board proposed a 20% dividend for 2024, with 6% already advanced. The company will also issue shares under an ESOP program for management members at a rate of 0.96%. Finally, PNJ plans to vote on the completion of terms for certain board members and elections for a new term.
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