The CAV of CEO Le Quang Dinh is about to pay a 40% cash dividend to shareholders.
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- Enterprise
- 22:12 05/07/2023
DNHN - The Vietnam Electric Cable Joint Stock Company (CAV) has just announced the payment of the third installment of cash dividends in 2022 equal to 40% of par value, with a payment deadline of July 28 for investors.
Vietnam Electric Cable Joint Stock Company was founded in 1975 and has been listed on HOSE since 2014 under the ticker symbol CAV. Currently, Gelex Electricity Joint Stock Company (UPCoM: GEE) is the largest shareholder of CAV, holding 96.16 percent of charter capital. Consequently, it is anticipated that Gelex Power will receive dividends from CADIVI over 221 billion VND in this round.

Consequently, business activities in 2022 experienced a recovery and positive growth compared to before the epidemic, with revenue and profit after tax increasing by 8.16 and 14.44%, respectively, from 2021. In terms of revenue structure, the domestic market continues to be the company's primary source of revenue, with the southern market accounting for 65 percent of total revenue.
In terms of cost structure, as a manufacturing company, CADIVI's COGS accounted for the largest proportion and increased by 6.98%, with a lower increase than revenue. Gross profit recorded revenue increased by 19.72% over the previous year, demonstrating the Company's business efficiency despite price fluctuations and input materials.
CADIVI's profit per share reached VND 6,550 by the end of 2022, an increase of over 14% compared to the previous year and a significant accomplishment for the Board of Directors and employees of the company. 1975 marked the founding of Vietnam Electric Cable Joint Stock Company, formerly known as Southern Copper Wire Company. Officially listed on the Hanoi Stock Exchange (HNX) in 2021.
With these results, the Company's net revenue reached 11,334 billion VND, which was 94% of its annual plan, and its profit before taxes reached over 482 billion VND, which was 92% of its annual plan.
In the context of a challenging business environment, this is an encouraging outcome that will inspire CADIVI to pursue loftier objectives in the coming year, when the economy recovers and expands.
Meanwhile, according to the consolidated financial statements for the first quarter of 2023, CAV's net revenue reached more than 2,000 billion dongs, a decrease of 27% compared to the same period the previous year. Revenue from semi-finished products accounted for 95% of total revenue, totaling 1,901 billion dongs. In the same period, the cost of goods sold decreased by 28% to nearly 1,789 billion dongs, and the gross profit decreased by 16% to 217 billion dongs.
In comparison to the first quarter of 2022, CAV's interest expense increased by 52% to nearly 39 billion VND in the first quarter of 2023. The selling and administration expenses are 50 billion Vietnamese Dong (VND), while the general and administrative expenses are 22 billion Vietnamese Dong (down 11% and 28%, respectively). As a result, Vietnam Electric Cable's profit after tax for the first three months of the year was more than VND 70 billion, down 26% compared to the same period last year.
Due to the influence of financial and monetary policies, CAV stated that the company's quarterly revenue decreased by VND 736.9 billion, or nearly 27%, compared to the same period in the first quarter of 2022. This is the primary factor influencing the profit after taxes during the same period.
General Director Le Quang Dinh, who was born in 1964 and holds a degree in Mechanical Engineering, is in charge of CAV. Mr. Dinh currently owns 115,180 shares, with an ownership rate of 0.12%.
In recent years, under the leadership of a 59-year-old mechanical engineer, CAV has achieved impressive business results.
Nghe Nhan
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