LỜI MỞ ĐẦU
1. Tính cấp thiết của đề tài và mục đích nghiên cứu:
Chính sách cổ tức là một phần quan trọng trong chính sách tài chính của doanh nghiệp vì
nó vừa ảnh hưởng trực tiếp đến lợi ích của các cổ đông, vừa ảnh hưởng đến sự phát triển
của công ty. Thời gian vừa qua, cùng với sự phát triển của thị trường chứng khoán Việt
Nam, chính sách cổ tức của các doanh nghiệp Việt Nam ngày càng đóng một vai trò quan
trọng, nhưng nó đã để lộ ra nhiều vấn đề, bất cập còn tồn tại. Qua đề tài nghiên cứu này,
hy vọng sẽ vẽ lên được bức tranh thực trạng chính sách cổ tức của các doanh nghiệp trên
thị trường chứng khoán Tp.HCM trong ba năm vừa qua và qua đó chỉ rõ ra được vấn đề
đang tồn tài cũng như có những đề xuất hợp lý cho thị trường.
2. Phương pháp luận nghiên cứu:
Dựa trên phương pháp quan sát, phân tích và tổng hợp là chính. Trên cơ sở hiểu biết lý
thuyết về chính sách cổ tức và phân tích, đánh giá từ các số liệu tài chính và thông tin trên
thị trường chứng khoán Tp.HCM
3. Kết cấu của đề tài:
Lời mở đầu: Giới thiệu ý nghĩa, mục đích, phương pháp nghiên cứu và
Chương 1: Các lý thuyết về chính sách cổ tức và giá trị doanh nghiệp hiện nay trên thế
giới.
Chương 2: Thực trạng chính sách cổ tức của các doanh nghiệp niêm yết trên thị trường
chứng khoán Tp.HCM trong thời gian qua.
Chương 3: Một số kiến nghị đối với chính sách cổ tức của các doanh nghiệp Việt Nam.
Kết luận: Khẳng định lại kết quả nghiên cứu , những mặt còn hạn chế.
MỤC LỤC
Lời mở đầu 1
Chương 1: Các lý thuyết về chính sách cổ tức và giá trị doanh nghiệp hiện nay trên
thế giới . 2
1.1 Các lý thuyết về chính sách cổ tức 2
1.1.1 Lý thuyết chính sách cổ tức tiền mặt cao 2
1.1.2 Khía cạnh về thuế và tác động của nhóm khách hàng 2
1.1.2.1 Tác động của nhóm khách hàng. . 2
1.1.2.2 Tác động của thuế. 3
1.1.3 Lý thuyết chính sách cổ tức không tương thích 4
1.1.3.1 Các giả định của MM 4
1.1.3.2. Nội dung lý thuyết của MM . 4
1.1.3.3 Trường hợp các cổ đông cũ bán đi một số cổ phiếu . 7
1.2 Chính sách cổ tức trong thực tế . 7
1.3 Một số bài nghiên cứu ở các nước trên thế giới liên quan mật thiết đến đề tài. 8
Chương 2: Thực trạng chính sách cổ tức của các doanh nghiệp niêm yết trên thị
trường chứng khoán Tp.HCM trong thời gian qua. 11
2.1 Giới thiệu sơ nét về thị trường chứng khoán Việt nam. . 11
2.1.1 Các đặc điểm chính của thị trường chứng khoán Việt Nam 11
2.1.2 Đặc điểm của các doanh nghiệp niêm yết. 11
2.1.3 Đặc điểm của các nhà đầu tư. . 12
2.2 Thực trạng chính sách cổ tức của các công ty niêm yết trên thị trường chứng
khoán Tp.HCM (HoSE) qua ba năm 2005-2007 12
2.2.1. Đánh giá tổng quan về chính sách cổ tức của các doanh nghiệp niêm yết trên TTCK
Tp.HCM trong thời gian qua. . 12
2.2.1.1 Vài nét chung 12
2.2.1.2 Một vài số liệu tổng hợp 14
2.2.2 chính sách chi trả của các doanh nghiệp . 15
2.2.2.1. Về hình thức chi trả 15
2.2.2.2 Phân tích mối quan hệ giữa cổ tức (DIV) và thu nhập trên mỗi cổ phần (EPS) 21
2.2.2.3 Tỷ trọng chi trả cổ tức trong thu nhập của doanh nghiệp (DIV/EPS). . 22
2.3 Phân tích chính sách cổ tức theo ngành. . 26
2.3.1 Tổng quan 26
2.3.2 Xét về hình thức chi trả cổ tức. . 29
2.3.3 Xét về tỷ lệ chi trả cổ tức trên thu nhập mỗi cổ phần (DIV/EPS). 29
2.3.4 Phân tích chính sách cổ tức của một số ngành tiêu biểu: 32
2.3.4.1 Ngành thực phẩm và đồ uống: . 32
2.3.4.2 Ngành bất động sản: 36
2.3.4.3 Ngành dược. 39
2.3.4.4 Ngành hóa chất: . 42
Chương 3: Một số kiến nghị đối với chính sách cổ tức của các doanh nghiệp Việt Nam.
. 44
1. Tổng hợp nhận xét đánh giá chung về những tồn tại của chính sách cổ tức trên
TTCK Việt Nam trong thời gian qua. . 44
2. Các kiến nghị và giải pháp đối với chính sách cổ tức của các doanh nghiệp Việt
Nam 46
Kết luận. 48
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PC 1285 10.00% 0.00% 10.00% 77.82% 0.00% 1 6,000,000
73 NAV 7430 6.00% 6.00% 0.00% 8.08% 8.08% 1
74 NHC 4730 28.50% 21.00% 7.50% 60.25% 44.40% 3 99,418
75 NKD 6020 38.00% 18.00% 20.00% 63.12% 29.90% 3 1,679,999
76 NSC 5050 10.50% 10.50% 0.00% 20.79% 20.79% 1 404,490
77 NTL
78 PAC 1980 9.00% 9.00% 0.00% 45.45% 45.45% 1
79 PET
80 PGC 1770 12.00% 12.00% 0.00% 67.80% 67.80% 1
81 PIT
82 PJT 2370 14.00% 14.00% 0.00% 59.07% 59.07% 1
83 PMS 1650 14.00% 14.00% 0.00% 84.85% 84.85% 1
84 PNC 1880 12.00% 6.00% 6.00% 63.83% 31.91% 2 1,000,000 240,000
85 PPC 3150 15.00% 10.00% 5.00% 47.62% 31.75% 2 15,535,000
86 PRUBF1
87 PVD 1710 14.00% 0.00% 14.00% 81.87% 0.00% 1 9,520,000
88 PVT
89 RAL 5850 8.00% 8.00% 0.00% 13.68% 13.68% 1 7,915,000
90 REE 7500 16.00% 16.00% 0.00% 21.33% 21.33% 2 5,549,410
91 RHC 4380 20.00% 20.00% 0.00% 45.66% 45.66% 1
92 RIC
72
93 SAF 3340 17.00% 17.00% 0.00% 50.90% 50.90% 1
94 SAM 5530 36.00% 16.00% 20.00% 65.10% 28.93% 3 4,680,000 10,899,216
95 SAV 4040 16.00% 16.00% 0.00% 39.60% 39.60% 2 2,000,000
96 SBT
97 SC5
98 SCD 2200 7.00% 7.00% 0.00% 31.82% 31.82% 1
99 SDN 2150 9.00% 9.00% 0.00% 41.86% 41.86% 1
100 SFC 4590 15.00% 15.00% 0.00% 32.68% 32.68% 2
101 SFI 12230 10.00% 10.00% 0.00% 8.18% 8.18% 1
102 SFN 2300 25.00% 25.00% 0.00% 108.70% 108.70% 1
103 SGC 4400 30.00% 30.00% 0.00% 68.18% 68.18% 2
104 SGH 1630 12.00% 12.00% 0.00% 73.62% 73.62% 1
105 SGT
106 SHC 2280 15.00% 15.00% 0.00% 65.79% 65.79% 2
107 SJ1 2850 20.90% 20.90% 0.00% 73.33% 73.33% 2
108 SJD 3130 30.00% 0.00% 30.00% 95.85% 0.00% 1 6,000,000
109 SJS 5990 53.33% 20.00% 33.33% 89.03% 33.39% 3 15,000,000
110 SMC 4020 99.00% 14.00% 85.00% 246.27% 34.83% 3 5,100,000
111 SSC 3730 20.00% 20.00% 0.00% 53.62% 53.62% 2
112 SSI
113 ST8
114 STB 2460 22.00% 0.00% 22.00% 89.43% 0.00% 2 44,067,683
115 TAC 2410 12.00% 12.00% 0.00% 49.79% 49.79% 1
116 TCM
117 TCR 2220 12.00% 0.00% 12.00% 54.05% 0.00% 1 3.596.831
118 TCT 6340 8.00% 8.00% 0.00% 12.62% 12.62% 1
119 TDH 6290 25.00% 5.00% 20.00% 39.75% 7.95% 2 3,400,000
120 TMC 4020 55.53% 22.20% 33.33% 138.13% 55.22% 3 854,710
121 TMS 3710 15.00% 15.00% 0.00% 40.43% 40.43% 2
122 TNA 4110 20.00% 20.00% 0.00% 48.66% 48.66% 2
123 TNC
124 TPC
125 TRC
126 TRI 1910 15.00% 15.00% 0.00% 78.53% 78.53% 1
127 TS4 2430 5.00% 5.00% 0.00% 20.58% 20.58% 1
128 TSC
129 TTC 1900 12.00% 12.00% 0.00% 63.16% 63.16% 1
130 TTF
131 TTP 5480 15.00% 15.00% 0.00% 27.37% 27.37% 2
132 TYA 1170 10.00% 0.00% 10.00% 85.47% 0.00% 1 482,430
133 UIC
134 UNI 1940 15.00% 15.00% 0.00% 77.32% 77.32% 2
135 VFC 2330 15.00% 15.00% 0.00% 64.38% 64.38% 2
136 VFMVF1
137 VGP 4090 14.00% 14.00% 0.00% 34.23% 34.23% 2
138 VHC
139 VHG
140 VIC
141 VID 2050 10.00% 0.00% 10.00% 48.78% 0.00% 1 845,570
142 VIP 1980 12.00% 12.00% 0.00% 60.61% 60.61% 1
143 VIS 1610 14.00% 0.00% 14.00% 86.96% 0.00% 1 1,400,000
144 VNE
145 VNM 4390 19.00% 19.00% 0.00% 43.28% 43.28% 2 7,950,000
146 VPK 1560 10.00% 10.00% 0.00% 64.10% 64.10% 1
147 VPL
148 VSC
73
149 VSH 2110 14.00% 14.00% 0.00% 66.35% 66.35% 2
150 VTA 590 5.00% 5.00% 0.00% 84.75% 84.75% 1
151 VTB 3120 12.00% 12.00% 0.00% 38.46% 38.46% 1
152 VTC 1420 8.00% 8.00% 0.00% 56.34% 56.34% 1 810,460
153 VTO
Bảng 3. Số liệu cổ tức của các công ty niêm yết trên HOSE năm 2005
STT Mã CK
Eps điều
chỉnh
Tỷ lệ cổ
tức
Tiền
mặt
Cổ tức cổ
phần DIV/EPS
DIV/EPS
(tiền mặt)
Số kỳ
chi trả
Phát hành mới
trong năm (không
dùng để chi trả cổ
tức)
Phát hành
dùng để chi
trả cổ tức cp
1 ABT
2 ACL
3 AGF 5094.6 13.00% 8.00% 5.00% 25.52% 15.70% 2 208,956
4 ALP
5 ALT
6 ANV
7 ASP
8 BBC 2199.7 12.00% 12.00% 0.00% 54.55% 54.55% 2
9 BBT 143.6 0.00% 0.00% 0.00% 0.00% 0.00% 0
10 BHS
11 BMC
12 BMP
13 BPC 2345.4 15.00% 15.00% 0.00% 63.95% 63.95% 2
14 BT6 3431.6 15.00% 15.00% 0.00% 43.71% 43.71% 2
15 BTC 172.4 0.00% 0.00% 0.00% 0.00% 0.00% 0
16 CAN 2098.7 12.50% 12.50% 0.00% 59.56% 59.56% 2
17 CII
18 CLC
19 COM
20 CYC
21 DCC
22 DCT
23 DHA 9484.7 30.00% 30.00% 0.00% 31.63% 31.63% 4
24 DHG
25 DIC
26 DMC
27 DNP
28 DPC 1486.8 12.00% 12.00% 0.00% 80.71% 80.71% 1
29 DPM
30 DPR
31 DQC
32 DRC
33 DTT
34 DXP
35 DXV
36 FBT
37 FMC
74
38 FPC
39 FPT
40 GIL 4413.1 16.00% 16.00% 0.00% 36.26% 36.26% 3 2,000,000
41 GMC
42 GMD 3913.6 78.67% 12.00% 66.67% 201.02% 30.66% 2 13,809,374
43 GTA
44 HAP 4492.3 20.00% 20.00% 0.00% 44.52% 44.52% 3
45 HAS 5253.7 40.00% 15.00% 25.00% 76.14% 28.55% 2 497,890
46 HAX
47 HBC
48 HBD
49 HDC
50 HMC
51 HPG
52 HRC
53 HSI
54 HT1
55 HTV 1850.4 13.00% 13.00% 0.00% 70.26% 70.26% 1
56 ICF
57 IFS
58 IMP
59 ITA
60 KDC 3967 36.00% 16.00% 20.00% 90.75% 40.33% 3 5,000,000
61 KHA 4461.5 23.00% 18.00% 5.00% 51.55% 40.35% 3 156,750
62 KHP
63 L10
64 LAF 1731.1 11.00% 11.00% 0.00% 63.54% 63.54% 2
65 LBM
66 LGC
67 LSS
68 MAFPF1
69 MCP
70 MCV
71 MHC 2417.6 15.00% 15.00% 0.00% 62.05% 62.05% 2
72 MPC
73 NAV
74 NHC 5190.4 16.75% 16.75% 0.00% 32.27% 32.27% 2
75 NKD 4844.7 38.00% 18.00% 20.00% 78.44% 37.15% 3 2,000,000 1,400,000
76 NSC
77 NTL
78 PAC
79 PET
80 PGC
81 PIT
82 PJT
83 PMS 1895.3 12.00% 12.00% 0.00% 63.31% 63.31% 1
84 PNC 1424.3 12.00% 12.00% 0.00% 84.25% 84.25% 2 1,000,000
85 PPC
86 PRUBF1
87 PVD
88 PVT
89 RAL
90 REE 2408.2 14.00% 14.00% 0.00% 58.13% 58.13% 2 5,000,000
91 RHC
92 RIC
75
93 SAF
94 SAM 3683 49.33% 16.00% 33.33% 133.94% 43.44% 3 5,400,000 9,359,428
95 SAV 3683.6 16.00% 16.00% 0.00% 43.44% 43.44% 2
96 SBT
97 SC5
98 SCD
99 SDN
100 SFC 3924.5 17.00% 17.00% 0.00% 43.32% 43.32% 2
101 SFI
102 SFN
103 SGC
104 SGH 1446.9 10.00% 10.00% 0.00% 69.11% 69.11% 2
105 SGT
106 SHC
107 SJ1
108 SJD
109 SJS
110 SMC
111 SSC 4895.8 20.00% 20.00% 0.00% 40.85% 40.85% 2
112 SSI
113 ST8
114 STB
115 TAC
116 TCM
117 TCR
118 TCT
119 TDH
120 TMC
121 TMS 4068.5 15.00% 15.00% 0.00% 36.87% 36.87% 2
122 TNA 3269.7 20.00% 20.00% 0.00% 61.17% 61.17% 2
123 TNC
124 TPC
125 TRC
126 TRI 1254.9 15.00% 15.00% 0.00% 119.53% 119.53% 1
127 TS4 2073.7 6.00% 6.00% 0.00% 28.93% 28.93% 1
128 TSC
129 TTC
130 TTF
131 TTP
132 TYA 1855.2 15.00% 0.00% 15.00% 80.85% 0.00% 1 3,150,913
133 UIC
134 UNI
135 VFC
136 VFMVF1
137 VGP
138 VHC
139 VHG
140 VIC
141 VID
142 VIP
143 VIS
144 VNE
145 VNM 3808.1 17.00% 17.00% 0.00% 44.64% 44.64% 2
146 VPK
147 VPL
148 VSC
76
149 VSH
150 VTA
151 VTB
152 VTC 4021.8 46.83% 13.50% 33.33% 116.44% 33.57% 2 810,460
153 VTO
77
Bảng 4. Một số chỉ tiêu tài chính của các công ty niêm yết trên HOSE
năm 2007
S
T
T
Mã
CK
Lợi
nhuận
sau
thuế
Khen
thưởng
, phúc
lợi Nợ
Vốn chủ
sở hữu
Vốn đầu
tư của
chủ sở
hữu
Tỗng tài
sản D/E
D/
A
Doanh
thu
thuần Lãi vay
Tổng
thu
nhập
trước
thuế
1
AB
T
40,921,0
00,000
127,819,0
44,359
287,597,3
59,537
62,999,99
0,000
415,416,4
03,896
44.4
4%
30.
77
%
429,705,5
74,013
45,403,8
91,975
2
AC
L
13,662,0
00,000
85,863,72
2,948
130,621,9
68,294
90,000,00
0,000
216,485,6
91,242
65.7
3%
39.
66
%
537,448,6
01,761
4,213,27
0,028
63,577,5
08,736
3
AG
F
39,588,0
00,000
222,465,6
65,696
621,740,9
98,221
128,592,8
80,000
844,206,6
63,917
35.7
8%
26.
35
%
1,233,733,
966,075
9,423,85
2,016
43,044,4
17,319
4
AL
P
99,918,0
00,000
235,683,8
45,812
644,360,8
80,911
300,000,0
00,000
880,044,7
26,723
36.5
8%
26.
78
%
356,153,3
67,616
3,051,34
2,647
121,684,
386,721
5
AL
T
9,377,00
0,000
33,784,93
5,270
202,055,0
07,573
39,951,25
0,000
235,839,9
42,843
16.7
2%
14.
33
%
180,245,2
92,938
4,707,08
8,710
9,394,18
2,504
6
AN
V
386,352,
000,000
482,959,4
05,410
1,781,719,
677,941
660,000,0
00,000
2,264,679,
083,351
27.1
1%
21.
33
%
3,193,437,
000,000
22,535,0
00,000
430,720,
000,000
7 ASP
21,400,8
47,407
320,656,0
61,782
264,265,1
21,274
126,000,0
00,000
584,921,1
83,056
121.
34%
54.
82
%
1,264,116,
112,363
7,386,59
1,212
28,810,8
61,661
8
BB
C
24,443,0
00,000
172,176,5
11,837
206,995,9
44,324
107,707,8
20,000
379,172,4
56,161
83.1
8%
45.
41
%
453,975,4
98,496
3,297,17
4,121
33,325,0
98,969
9
BB
T
3,009,00
0,000
46,558,02
6,139
75,991,74
5,101
68,400,00
0,000
122,549,7
71,240
61.2
7%
37.
99
%
68,851,00
0,000
2,607,00
0,000
3,439,00
0,000
1
0
BH
S
53,633,0
00,000
7,768,8
09,935
289,042,9
44,038
380,383,4
04,815
168,477,2
70,000
669,426,3
48,853
75.9
9%
43.
18
%
641,379,4
20,936
13,449,7
69,635
53,633,0
26,705
1
1
BM
C
43,267,0
00,000
3,249,2
41,191
17,503,44
8,802
76,994,99
8,247
39,342,00
0,000
94,498,44
7,049
22.7
3%
18.
52
%
103,202,5
42,647
49,565,9
92,334
1
2
BM
P
93,426,0
00,000
76,150,28
4,813
421,586,8
49,450
140,405,8
00,000
497,737,1
34,263
18.0
6%
15.
30
%
679,999,8
38,956
298,149,
452
111,271,
793,002
1
3
BP
C
10,898,0
00,000
14,006,32
9,773
71,294,96
5,303
38,000,00
0,000
85,301,29
5,076
19.6
5%
16.
42
%
143,310,8
73,926
13,051,7
06,477
1
4 BT6
37,450,0
00,000
393,107,1
00,921
313,770,2
40,349
109,978,5
00,000
706,877,3
41,270
125.
29%
55.
61
%
689,934,0
67,823
4,432,98
4,216
48,860,8
83,160
1
5
BT
C
542,000,
000
26,010,74
1,985
7,737,099,
830
13,180,26
2,313
33,747,84
1,815
336.
18%
77.
07
%
15,396,31
8,797
542,000,
000
1
6
CA
N
10,051,0
00,000
42,869,32
2,174
79,797,48
1,517
50,000,00
0,000
122,666,8
03,691
53.7
2%
34.
95
%
309,680,3
77,909
12,423,9
78,209
1
7 CII
95,819,0
00,000
917,976,4
04,466
773,670,9
10,636
400,000,0
00,000
1,691,647,
315,102
118.
65%
54.
27
%
177,424,3
99,389
44,591,6
58,382
107,123,
566,856
1
8
CL
C
45,598,0
00,000
211,168,0
00,000
139,208,0
00,000
350,376,0
00,000
151.
69%
60.
27
%
813,948,0
00,000
10,740,0
00,000
49,014,0
00,000
1
9
CO
M
15,209,0
00,000
47,453,36
1,859
284,927,0
21,721
79,999,17
0,000
332,380,3
83,580
16.6
5%
14.
28
%
2,087,941,
306,742
17,651,5
91,621
2
0
CY
C
4,991,00
0,000
167,750,9
57,763
111,484,7
27,298
90,478,55
0,000
279,235,6
85,061
150.
47%
60.
08
%
163,436,3
42,159
736,097,
137
4,991,08
0,957
2
1
DC
C
19,504,0
00,000
148,457,8
15,799
212,651,2
21,937
103,000,0
00,000
361,109,0
37,736
69.8
1%
41.
11
%
375,442,5
82,399
27,059,4
34,380
2
2
DC
T
33,574,0
00,000
66,304,00
0,000
307,422,0
00,000
373,726,0
00,000
21.5
7%
17.
74
%
157,447,0
00,000
719,000,
000
39,112,0
00,000
2
3
DH
A
36,812,0
00,000
28,905,00
0,000
208,025,0
00,000
236,930,0
00,000
13.8
9%
12.
20
%
98,130,00
0,000
48,604,0
00,000
2 DH 127,093, 290,631,4 651,577,1 200,000,0 942,208,5 44.6 30. 1,269,279, 15,393,8 128,311,
78
4 G 000,000 17,938 46,849 00,000 64,787 0% 85
%
925,381 78,923 970,349
2
5 DIC
13,714,0
00,000
132,100,2
57,326
60,857,48
4,412
33,600,00
0,000
192,957,7
41,738
217.
06%
68.
46
%
592,285,1
49,831
3,637,86
9,475
15,945,9
78,026
2
6
DM
C
64,182,0
00,000
140,858,3
11,071
462,007,3
38,870
137,699,9
90,000
602,865,6
49,941
30.4
9%
23.
36
%
811,126,4
94,750
3,376,00
0,415
64,265,6
98,636
2
7
DN
P
5,235,00
0,000
81,495,16
1,555
34,216,61
2,682
20,000,00
0,000
115,711,7
74,237
238.
17%
70.
43
%
149,368,2
42,330
3,555,23
8,573
6,087,25
7,053
2
8
DP
C
3,067,00
0,000
15,039,67
1,046
20,733,52
8,128
15,872,80
0,000
35,773,19
9,174
72.5
4%
42.
04
%
63,680,82
4,234
867,000,
000
3,407,27
9,992
2
9
DP
M
1,320,79
6,000,00
0
1,361,387
,120,687
4,377,160,
453,839
3,800,000
,000,000
5,738,547,
574,526
31.1
0%
23.
72
%
3,779,037,
911,197
81,495,3
61,172
1,329,68
3,380,31
9
3
0
DP
R
230,620,
000,000
462,943,0
00,000
668,559,0
00,000
1,131,502,
000,000
69.2
4%
40.
91
%
703,796,0
00,000
230,620,
000,000
3
1
DQ
C
205,387,
000,000
3
2
DR
C
70,868,0
00,000
114,072,1
43,237
208,533,4
06,079
130,385,5
20,000
322,605,5
49,316
54.7
0%
35.
36
%
1,169,780,
663,174
22,105,4
50,200
70,867,5
62,984
3
3
DT
T
4,726,00
0,000
5,083,038
,070
100,846,8
29,637
52,000,00
0,000
105,929,8
67,707
5.04
%
4.8
0%
54,860,31
0,253
294,507,
515
4,788,12
7,351
3
4
DX
P
15,312,0
00,000
1,100,0
00,000
39,068,89
0,360
63,919,08
4,738
52,500,00
0,000
102,987,9
75,098
61.1
2%
37.
94
%
73,016,34
9,368
2,239,25
2,195
15,312,3
83,368
3
5
DX
V
3
6
FB
T
15,109,0
00,000
458,064,8
66,478
165,310,1
69,634
150,000,0
00,000
623,375,0
36,112
277.
09%
73.
48
%
366,020,2
30,402
25,531,3
48,782
16,177,3
06,324
3
7
FM
C
27,495,0
00,000
5,026,3
50,573
220,215,7
97,164
162,944,8
85,674
79,000,00
0,000
383,160,6
82,838
135.
15%
57.
47
%
999,763,5
71,406
9,838,09
2,817
27,771,2
12,672
3
8
FP
C
65,735,0
00,000
154,106,0
90,820
952,304,0
77,882
329,999,9
10,000
1,106,410,
168,702
16.1
8%
13.
93
%
582,067,3
95,648
11,943,2
19,418
81,069,1
07,492
3
9 FPT
725,911,
000,000
3,094,037
,392,967
1,979,408,
622,819
923,525,7
90,000
5,073,446,
015,786
156.
31%
60.
98
%
13,498,89
0,769,841
1,028,98
5,307,73
5
4
0 GIL
26,530,0
00,000
51,145,10
9,412
333,207,9
48,824
102,198,1
80,000
384,353,0
58,236
15.3
5%
13.
31
%
449,156,1
27,391
34,073,8
23,117
4
1
GM
C
14,303,0
00,000
72,713,30
4,087
108,872,1
13,414
46,694,97
0,000
181,585,4
17,501
66.7
9%
40.
04
%
355,908,8
86,226
3,868,19
5,667
17,501,1
25,935
4
2
GM
D
282,418,
000,000
865,943,0
00,000
2,262,071,
000,000
3,128,014,
000,000
38.2
8%
27.
68
%
1,185,515,
000,000
282,418,
000,000
4
3
GT
A
14,848,0
00,000
92,682,45
2,007
107,094,5
07,542
84,077,50
0,000
199,776,9
59,549
86.5
4%
46.
39
%
133,639,9
79,547
347,443,
606
16,489,6
84,439
4
4
HA
P
84,859,0
00,000
208,138,0
00,000
504,059,0
00,000
712,197,0
00,000
41.2
9%
29.
22
%
248,637,0
00,000
1,968,00
0,000
100,007,
000,000
4
5
HA
S
13,985,0
00,000
143,881,7
70,508
154,018,3
46,521
59,919,06
0,000
297,900,1
17,029
93.4
2%
48.
30
%
152,021,5
14,939
1,296,52
5,485
19,385,7
80,428
4
6
HA
X
7,949,00
0,000
60,838,29
7,842
27,769,35
9,886
16,257,30
0,000
88,607,65
7,728
219.
08%
68.
66
%
473,274,6
49,547
2,569,09
5,319
9,514,47
1,307
4
7
HB
C
27,834,0
00,000
405,512,2
43,103
533,544,4
36,903
135,000,0
00,000
939,056,6
80,006
76.0
0%
43.
18
%
459,632,9
00,311
7,536,34
1,035
32,626,5
55,907
4
8
HB
D
2,475,00
0,000
10,386,25
3,802
19,538,09
5,961
29,924,34
9,763
53.1
6%
34.
71
%
51,840,90
7,466
65,000,0
00
2,675,25
4,251
4
9
HD
C
27,235,0
00,000
483,418,0
00,000
139,285,0
00,000
622,703,0
00,000
347.
07%
77.
63
%
249,633,0
00,000
2,799,00
0,000
36,759,0
00,000
5
0
HM
C
38,225,0
00,000
267,389,0
29,759
195,345,1
55,197
158,000,0
00,000
462,734,1
84,956
136.
88%
57.
78
%
2,800,364,
406,236
7,275,25
0,944
38,225,0
85,330
5
1
HP
G
642,094,
000,000
573,581,6
99,616
2,905,415,
122,303
1,320,000
,000,000
3,478,996,
821,919
19.7
4%
16.
49
%
2,294,108,
247,554
437,978,
875,848
79
5
2
HR
C
132,910,
000,000
67,191,00
7,823
339,834,3
57,790
172,609,7
60,000
407,025,3
65,613
19.7
7%
16.
51
%
296,007,6
65,488
36,047,9
16
132,910,
426,207
5
3 HSI
25,035,0
00,000
463,682,0
00,000
135,619,0
00,000
599,301,0
00,000
341.
90%
77.
37
%
656,894,0
00,000
25,035,0
00,000
5
4
HT
1
100,339,
000,000
1,414,959
,759,192
960,253,8
51,379
870,000,0
00,000
2,375,213,
610,571
147.
35%
59.
57
%
2,192,927,
887,238
18,107,3
25,708
100,338,
834,623
5
5
HT
V
15,453,0
00,000
12,032,12
5,027
193,786,0
85,815
100,800,0
00,000
205,818,2
10,842
6.21
%
5.8
5%
76,089,48
1,779
60,666,6
67
17,984,0
55,049
5
6 ICF
19,616,0
00,000
188,151,0
00,000
143,565,0
00,000
331,716,0
00,000
131.
06%
56.
72
%
326,025,0
00,000
5,878,00
0,000
19,616,0
00,000
5
7 IFS
72,628,0
00,000
465,195,0
00,000
405,020,0
00,000
870,215,0
00,000
114.
86%
53.
46
%
723,272,0
00,000
79,135,0
00,000
5
8
IM
P
54,343,0
00,000
70,873,65
4,857
497,551,8
64,431
116,598,2
00,000
568,425,5
19,288
14.2
4%
12.
47
%
451,602,3
12,557
749,658,
500
63,230,6
37,617
5
9 ITA
371,658,
000,000
1,351,541
,520,512
3,303,474,
684,751
1,000,000
,000,000
4,655,016,
205,263
40.9
1%
29.
03
%
918,301,7
47,683
28,216,8
38,449
460,466,
965,779
6
0
KD
C
240,703,
033,755
12,287,
696,787
586,974,7
74,362
2,457,284,
329,619
469,996,6
50,000
3,044,259,
103,981
23.8
9%
19.
28
%
1,233,118,
922,409
30,574,6
76,184
240,703,
033,755
6
1
KH
A
13,270,0
00,000
123,281,1
75,403
234,973,2
72,910
130,748,6
70,000
358,254,4
48,313
52.4
7%
34.
41
%
74,816,72
1,608
2,267,12
5,290
16,588,7
48,030
6
2
KH
P
46,074,0
00,000
254,232,4
19,931
214,533,0
38,604
174,090,8
60,000
468,765,4
58,535
118.
51%
54.
23
%
758,905,1
42,269
46,390,1
02,605
6
3 L10
12,539,0
00,000
177,697,1
60,795
107,583,3
10,764
90,000,00
0,000
285,280,4
71,559
165.
17%
62.
29
%
205,845,5
07,372
8,495,77
3,396
14,864,3
48,932
6
4
LA
F
21,108,0
00,000
72,488,75
1,329
90,230,60
3,103
57,989,01
0,000
162,719,3
54,432
80.3
4%
44.
55
%
626,502,8
44,994
9,541,83
6,702
24,783,1
36,793
6
5
LB
M
4,273,00
0,000
48,476,57
7,438
59,876,84
5,322
41,355,60
0,000
108,353,4
22,760
80.9
6%
44.
74
%
57,599,01
0,121
3,178,13
9,662
4,272,98
7,905
6
6
LG
C
4,047,00
0,000
187,466,9
68,333
82,667,83
3,275
46,000,00
0,000
270,134,8
01,608
226.
77%
69.
40
%
58,925,80
3,077
297,567,
794
4,436,13
6,185
6
7 LSS
81,570,0
00,000
243,718,0
00,000
625,533,0
00,000
869,251,0
00,000
38.9
6%
28.
04
%
813,958,0
00,000
8,110,00
0,000
112,308,
000,000
6
8
MA
FPF
1
6
9
MC
P
10,479,0
00,000
162,263,6
80,957
64,594,66
2,089
30,000,00
0,000
226,858,3
43,046
251.
20%
71.
53
%
165,858,9
02,149
1,974,17
0,252
11,884,5
13,334
7
0
MC
V
9,768,00
0,000
193,465,0
00,000
80,854,00
0,000
274,319,0
00,000
239.
28%
70.
53
%
127,268,0
00,000
12,659,0
00,000
11,358,0
00,000
7
1
MH
C
33,495,0
00,000
132,963,0
00,000
138,090,0
00,000
271,053,0
00,000
96.2
9%
49.
05
%
242,354,0
00,000
38,612,0
00,000
7
2
MP
C
147,013,
000,000
1,017,474
,986,017
1,089,960,
766,775
700,000,0
00,000
2,107,435,
752,792
93.3
5%
48.
28
%
2,357,470,
406,632
47,474,2
29,798
211,017,
395,777
7
3
NA
V
25,552,0
00,000
53,378,02
5,277
89,946,97
7,020
50,000,00
0,000
143,325,0
02,297
59.3
4%
37.
24
%
212,485,2
87,974
2,749,19
0,220
28,743,9
52,464
7
4
NH
C
6,002,00
0,000
4,795,000
,000
20,686,00
0,000
25,481,00
0,000
23.1
8%
18.
82
%
43,050,00
0,000
7,048,00
0,000
7
5
NK
D
79,137,0
00,000
376,568,2
01,097
251,939,5
22,781
100,797,8
50,000
628,507,7
23,878
149.
47%
59.
91
%
561,516,2
27,401
12,461,9
64,339
96,017,2
67,827
7
6
NS
C
13,511,8
60,479
1,475,9
93,262
47,481,69
7,770
71,607,42
9,352
36,000,00
0,000
119,089,1
27,122
66.3
1%
39.
87
%
140,387,7
86,052
70,197,6
05
13,511,8
60,479
7
7
NT
L
303,821,0
00,000
370,617,0
00,000
674,438,0
00,000
81.9
8%
45.
05
%
487,152,0
00,000
362,000,
000
212,869,
000,000
7
8
PA
C
45,033,0
00,000
246,481,0
00,000
195,838,0
00,000
442,319,0
00,000
125.
86%
55.
72
%
989,810,0
00,000
8,223,00
0,000
52,363,0
00,000
80
7
9
PE
T
52,392,0
00,000
674,424,0
00,000
542,231,0
00,000
1,216,655,
000,000
124.
38%
55.
43
%
2,514,786,
000,000
52,392,0
00,000
8
0
PG
C
46,732,4
79,089
4,892,7
30,000
295,806,8
83,019
535,617,1
78,290
250,000,0
00,000
831,424,0
61,309
55.2
3%
35.
58
%
1,494,969,
444,275
4,164,14
0,576
54,093,1
98,894
8
1 PIT
170,887,4
67,697
223,990,0
55,943
97,704,79
0,000
394,877,5
23,640
76.2
9%
43.
28
%
1,562,663,
157,315
7,498,59
0,717
42,226,2
43,351
8
2 PJT
11,510,0
00,000
74,599,79
1,210
54,982,95
4,463
35,000,00
0,000
129,582,7
45,673
135.
68%
57.
57
%
732,809,8
64,677
3,669,41
5,478
13,436,8
85,767
8
3
PM
S
7,850,00
0,000
41,189,38
9,464
84,883,45
9,661
52,000,00
0,000
126,072,8
49,125
48.5
2%
32.
67
%
215,881,0
66,698
928,995,
108
10,888,9
62,054
8
4
PN
C
9,010,00
0,000
89,326,98
5,272
127,725,4
65,105
65,000,00
0,000
217,052,4
50,377
69.9
4%
41.
15
%
214,657,1
72,459
10,400,2
51,912
8
5
PP
C
827,804,
000,000
5,857,297
,061,666
3,824,987,
668,474
3,262,350
,000,000
9,682,284,
730,140
153.
13%
60.
49
%
3,807,068,
101,594
167,312,
000,000
778,255,
090,437
8
6
PR
UB
F1
8
7
PV
D
575,937,
000,000
1,968,627
,891,000
1,864,223,
187,000
1,101,397
,300,000
3,832,851,
078,000
105.
60%
51.
36
%
2,738,605,
347,000
76,857,1
14,000
579,875,
305,000
8
8
PV
T
18,766,3
41,660
2,376,6
34,166
996,886,7
06,660
758,980,1
42,463
720,000,0
00,000
1,755,866,
849,123
131.
35%
56.
77
%
313,222,0
79,803
34,268,8
97,457
25,934,5
07,988
8
9
RA
L
53,561,0
00,000
475,471,6
26,729
391,186,9
86,940
115,000,0
00,000
866,658,6
13,669
121.
55%
54.
86
%
788,062,8
42,924
35,192,3
87,385
53,561,3
88,429
9
0
RE
E
389,612,
000,000
376,149,6
30,253
2,183,725,
236,189
575,149,9
20,000
2,559,874,
866,442
17.2
3%
14.
69
%
1,125,184,
666,706
389,611,
538,030
9
1
RH
C
13,817,0
00,000
63,826,86
2,769
62,861,01
2,995
32,000,00
0,000
126,687,8
75,764
101.
54%
50.
38
%
38,369,72
7,402
6,975,10
1,850
14,864,0
37,232
9
2 RIC
57,815,0
00,000
98,230,92
7,886
685,762,0
15,512
410,319,7
60,000
783,992,9
43,398
14.3
2%
12.
53
%
159,336,3
59,980
3,041,16
2,992
56,450,3
06,976
9
3 SAF
10,852,0
00,000
1,126,4
22,642
30,618,15
7,474
43,951,83
8,009
27,060,00
0,000
74,569,99
5,483
69.6
6%
41.
06
%
333,204,6
69,364
60,000,0
00
10,852,0
52,072
9
4
SA
M
196,886,
000,000
17,479,
337,494
645,201,1
44,544
2,432,696,
052,940
545,000,0
00,000
3,077,897,
197,484
26.5
2%
20.
96
%
1,695,987,
468,575
51,270,2
51,142
221,891,
751,139
9
5
SA
V
15,476,0
00,000
2,169,6
54,915
247,347,8
16,372
287,475,0
18,947
99,634,50
0,000
534,822,8
35,319
86.0
4%
46.
25
%
413,908,5
27,069
4,917,67
9,198
21,462,1
62,558
9
6 SBT
191,321,
459,895
5,704,7
83,103
105,069,3
84,776
1,610,579,
459,895
1,419,258
,000,000
1,715,648,
844,671
6.52
%
6.1
2%
674,271,8
31,280
1,483,53
5,997
191,321,
459,895
9
7 SC5
61,358,0
00,000
750,645,8
14,100
165,876,2
62,096
86,000,00
0,000
916,522,0
76,196
452.
53%
81.
90
%
772,347,3
83,902
71,347,0
05,317
9
8
SC
D
21,961,0
00,000
34,006,33
7,056
121,845,2
14,519
85,000,00
0,000
155,851,5
51,575
27.9
1%
21.
82
%
238,894,1
24,869
26,379,1
10,218
9
9
SD
N
3,503,00
0,000
18,910,44
6,844
16,206,03
9,837
11,400,00
0,000
35,116,48
6,681
116.
69%
53.
85
%
49,113,00
1,047
1,003,58
1,438
3,590,79
5,669
1
0
0 SFC
8,354,00
0,000
68,143,43
3,395
75,148,58
9,249
34,000,00
0,000
143,292,0
22,644
90.6
8%
47.
56
%
801,125,6
47,413
1,849,63
0,155
9,588,49
3,017
1
0
1 SFI
7,087,00
0,000
208,377,8
69,554
56,071,19
2,261
11,385,00
8,054
264,449,0
61,815
371.
63%
78.
80
%
98,399,70
8,742
29,906,9
72,259
1
0
2 SFN
5,199,00
0,000
4,585,823
,587
38,936,22
6,469
30,000,00
0,000
43,522,05
0,056
11.7
8%
10.
54
%
115,850,9
14,629
25,752,3
33
6,065,66
7,643
1
0
3
SG
C
18,998,0
00,000
10,097,06
0,856
73,532,96
6,492
40,887,00
0,000
83,630,02
7,348
13.7
3%
12.
07
%
118,916,8
67,369
158,514,
000
18,794,0
44,326
1
0
4
SG
H
4,311,00
0,000
1,787,156
,541
24,451,87
6,233
17,662,96
9,959
26,239,03
2,774
7.31
%
6.8
1%
22,582,16
1,482
5,911,17
8,287
1
0
5
SG
T
151,411,
000,000
782,619,9
09,565
601,578,1
36,571
601,578,1
36,571
1,384,198,
046,136
130.
09%
56.
54
%
851,215,5
87,725
1,215,07
0,126
165,317,
664,431
81
1
0
6
SH
C
7,029,00
0,000
808,538
,624
94,774,86
3,685
58,652,06
2,518
30,000,00
0,000
153,426,9
26,203
161.
59%
61.
77
%
96,634,08
2,364
2,097,35
3,942
8,398,27
9,908
1
0
7 SJ1
5,826,00
0,000
15,413,96
7,227
70,054,04
0,839
35,000,00
0,000
85,468,00
8,066
22.0
0%
18.
03
%
145,552,9
76,504
6,537,24
5,254
1
0
8 SJD
68,446,0
00,000
873,838,0
00,000
338,845,0
00,000
1,212,683,
000,000
257.
89%
72.
06
%
241,742,0
00,000
77,442,0
00,000
68,254,0
00,000
1
0
9 SJS
344,738,
000,000
276,305,7
88,640
1,270,928,
748,267
400,000,0
00,000
1,547,234,
536,907
21.7
4%
17.
86
%
708,107,0
59,086
359,278,
036,878
1
1
0
SM
C
46,105,0
00,000
4,282,4
85,711
373,869,7
32,330
208,298,5
06,672
99,972,96
0,000
582,168,2
39,002
179.
49%
64.
22
%
2,998,575,
039,627
17,720,7
64,717
53,876,5
19,424
1
1
1 SSC
22,010,0
00,000
30,945,58
4,505
125,302,7
33,782
100,000,0
00,000
156,248,3
18,287
24.7
0%
19.
81
%
155,856,5
94,492
708,595,
021
24,455,1
26,202
1
1
2 SSI
858,550,
000,000
5,305,102
,368,435
4,056,531,
952,669
1,199,998
,710,000
9,361,634,
321,104
130.
78%
56.
67
%
1,243,831,
260,715
961,517,
542,371
1
1
3 ST8
41,671,0
00,000
102,522,8
47,397
123,116,0
94,407
82,000,00
0,000
225,638,9
41,804
83.2
7%
45.
44
%
597,683,1
84,110
55,985,9
12,187
1
1
4 STB
1,280,16
5,000,00
0
245,376
,802,10
0
57,223,21
6,000,000
7,349,659,
000,000
5,662,485
,000,000
64,572,87
5,000,000
778.
58%
88.
62
%
1,581,97
1,000,00
0
1
1
5
TA
C
125,712,
000,000
475,621,1
34,390
361,440,2
71,274
189,802,0
00,000
837,061,4
05,664
131.
59%
56.
82
%
2,554,228,
304,492
125,712,
444,794
1
1
6
TC
M
79,301,0
00,000
789,629,0
82,899
317,085,7
19,612
189,824,9
70,000
1,106,714,
802,510
249.
03%
71.
35
%
1,057,276,
652,812
36,344,2
02,661
74,410,2
45,160
1
1
7
TC
R
72,810,0
00,000
572,354,5
03,881
587,052,2
93,912
335,704,2
50,000
1,159,406,
797,793
97.5
0%
49.
37
%
1,145,380,
246,295
31,099,7
58,400
80,010,9
90,455
1
1
8
TC
T
15,900,0
00,000
4,850,557
,140
47,719,95
9,483
15,985,00
0,000
52,570,51
6,623
10.1
6%
9.2
3%
32,037,45
4,817
21,662,5
91
18,483,3
50,743
1
1
9
TD
H
143,097,
000,000
16,753,
600,000
338,550,6
14,086
755,810,6
94,276
170,000,0
00,000
1,094,361,
308,362
44.7
9%
30.
94
%
188,511,5
32,387
187,004,
455,117
1
2
0
TM
C
15,365,0
00,000
2,553,3
49,000
93,283,00
0,000
58,380,00
0,000
151,663,0
00,000
159.
79%
61.
51
%
1,066,528,
000,000
4,268,00
0,000
18,135,0
00,000
1
2
1
TM
S
16,692,0
00,000
32,649,75
9,221
180,563,9
76,330
63,480,00
0,000
213,213,7
35,551
18.0
8%
15.
31
%
135,189,4
06,636
1,192,31
9,331
22,953,0
96,968
1
2
2
TN
A
12,921,0
00,000
1,611,4
57,000
81,830,62
5,349
90,647,98
3,105
33,000,00
0,000
172,478,6
08,454
90.2
7%
47.
44
%
470,441,5
58,941
4,219,60
8,692
15,022,2
24,746
1
2
3
TN
C
33,786,0
00,000
58,156,24
0,595
217,942,6
02,975
192,500,0
00,000
276,098,8
43,570
26.6
8%
21.
06
%
165,706,0
86,735
33,785,6
00,307
1
2
4
TP
C
26,854,0
00,000
85,571,00
0,000
357,506,0
00,000
443,077,0
00,000
23.9
4%
19.
31
%
288,291,0
00,000
3,162,00
0,000
26,988,0
00,000
1
2
5
TR
C
177,445,
161,113
346,814,6
71,421
470,356,6
91,791
300,000,0
00,000
817,171,3
63,212
73.7
3%
42.
44
%
491,893,9
12,054
5,525,52
5,104
177,445,
913,915
1
2
6 TRI
15,264,0
00,000
498,531,2
82,800
152,510,0
51,621
75,483,60
0,000
651,041,3
34,421
326.
88%
76.
57
%
384,639,7
28,867
11,132,0
00,000
21,128,5
40,788
1
2
7 TS4
8,014,00
0,000
1,690,0
00,000
28,474,00
0,000
113,176,0
00,000
141,650,0
00,000
25.1
6%
20.
10
%
172,904,0
00,000
653,000,
000
8,235,00
0,000
1
2
8
TS
C
68,642,0
00,000
4,147,6
18,000
304,764,0
06,630
159,326,0
87,115
83,129,15
0,000
464,090,0
93,745
191.
28%
65.
67
%
1,447,647,
117,529
17,658,3
59,134
81,439,3
91,694
1
2
9
TT
C
9,247,00
0,000
133,753,5
31,670
49,750,67
7,347
40,000,00
0,000
183,504,2
09,017
268.
85%
72.
89
%
324,865,1
21,719
8,245,19
6,637
9,246,93
3,655
1
3
0
TT
F
56,029,7
72,537
687,651,1
90,319
664,817,5
22,699
150,000,0
00,000
1,352,468,
713,018
103.
43%
50.
84
%
603,130,0
81,484
33,034,1
90,084
58,303,7
79,735
1
3
1
TT
P
51,724,0
00,000
96,989,23
3,859
392,894,5
40,060
146,999,9
80,000
489,883,7
73,919
24.6
9%
19.
80
%
853,974,4
03,992
10,051,1
48,578
60,323,5
93,572
1
3
TY
A
8,400,00
0,000
695,074,2
74,000
306,560,1
26,000
1,001,634,
400,000
226.
73%
69.
39
1,375,220,
001,000
7,253,61
9,000
82
2 %
1
3
3 UIC
18,134,0
00,000
206,125,0
00,000
124,932,0
00,000
331,057,0
00,000
164.
99%
62.
26
%
510,781,0
00,000
19,871,0
00,000
1
3
4 UNI
8,523,00
0,000
48,366,01
9,418
26,316,73
6,844
15,000,00
0,000
74,682,75
6,262
183.
78%
64.
76
%
226,760,2
56,286
256,000,
000
10,279,4
43,684
1
3
5
VF
C
16,894,0
00,000
161,966,7
50,050
122,936,6
59,165
67,756,27
0,000
284,903,4
09,215
131.
75%
56.
85
%
595,964,8
65,017
12,459,7
18,319
17,750,0
75,792
1
3
6
VF
MV
F1
1
3
7
VG
P
13,971,0
00,000
7,969,270
,987
136,127,3
98,528
62,016,08
0,000
144,096,6
69,515
5.85
%
5.5
3%
195,842,5
54,170
1,448,63
3,907
15,779,6
87,368
1
3
8
VH
C
125,417,
000,000
6,730,4
16,092
226,496,0
00,000
396,017,0
00,000
622,513,0
00,000
57.1
9%
36.
38
%
1,789,557,
000,000
2,040,00
0,000
145,179,
000,000
1
3
9
VH
G
86,204,0
00,000
17,866,30
7,089
514,120,3
80,129
250,000,0
00,000
531,986,6
87,218
3.48
%
3.3
6%
700,480,0
38,373
4,060,84
6,972
86,247,5
93,880
1
4
0 VIC
287,264,
000,000
1,246,866
,428,991
1,933,137,
325,685
800,000,0
00,000
3,180,003,
754,676
64.5
0%
39.
21
%
180,195,2
34,984
21,211,3
08,650
333,222,
118,339
1
4
1 VID
22,399,0
00,000
184,051,6
60,813
247,133,3
08,668
194,993,4
20,000
431,184,9
69,481
74.4
7%
42.
69
%
440,525,1
06,410
9,021,43
0,048
26,228,0
77,198
1
4
2 VIP
145,917,
000,000
765,474,4
11,824
779,800,0
38,200
598,077,8
50,000
1,545,274,
450,024
98.1
6%
49.
54
%
1,050,799,
498,008
49,019,8
93,781
147,572,
023,403
1
4
3 VIS
19,498,0
00,000
2,153,2
40,471
615,725,1
26,014
173,852,0
02,667
150,000,0
00,000
789,577,1
28,681
354.
17%
77.
98
%
1,468,809,
662,857
54,516,5
85,386
25,576,2
11,843
1
4
4
VN
E
61,925,0
00,000
1,447,571
,057,662
372,291,3
29,332
320,000,0
00,000
1,819,862,
386,994
388.
83%
79.
54
%
366,102,0
75,550
18,623,5
34,392
63,340,4
23,216
1
4
5
VN
M
967,093,
000,000
1,073,230
,000,000
4,351,887,
000,000
1,752,757
,000,000
5,425,117,
000,000
24.6
6%
19.
78
%
6,648,193,
000,000
955,381,
000,000
1
4
6
VP
K
10,161,0
00,000
87,961,29
8,179
93,860,44
0,221
76,000,00
0,000
181,821,7
38,400
93.7
1%
48.
38
%
164,464,6
08,187
4,715,05
7,502
11,954,2
52,632
1
4
7
VP
L
82,940,1
28,623
742,831,9
85,352
1,027,087,
928,228
1,000,000
,000,000
1,769,919,
913,580
72.3
2%
41.
97
%
397,378,9
62,716
38,074,2
81,655
93,345,8
08,438
1
4
8
VS
C
65,067,7
98,329
106,770,1
46,483
249,708,8
23,951
80,373,34
0,000
356,478,9
70,434
42.7
6%
29.
95
%
234,707,4
93,707
2,756,83
6,884
73,766,6
48,576
1
4
9
VS
H
254,379,
000,000
437,462,5
65,756
2,021,119,
753,594
1,374,942
,580,000
2,458,582,
319,350
21.6
4%
17.
79
%
370,161,5
00,494
15,392,0
00,000
254,379,
184,383
1
5
0
VT
A
8,085,00
0,000
206,325,3
60,249
79,128,53
2,628
60,000,00
0,000
285,453,8
92,877
260.
75%
72.
28
%
311,619,6
02,796
14,034,8
73,405
9,389,47
2,490
1
5
1
VT
B
24,167,0
00,000
1,691,7
11,251
117,774,1
03,420
216,059,9
09,739
110,053,4
50,000
333,834,0
13,159
54.5
1%
35.
28
%
512,323,7
85,043
4,707,08
8,717
29,683,0
01,655
1
5
2
VT
C
5,192,00
0,000
1,368,0
00,000
59393563
222
41,690,79
1,532
26,081,87
0,000
101,084,3
54,754
142.
46%
58.
76
%
85,619,07
6,213
823,658,
217
8,270,86
3,986
1
5
3
VT
O
187,796,
102,718
1,118,985
,408,316
622,294,6
41,055
400,000,0
00,000
1,741,280,
049,371
179.
82%
64.
26
%
726,717,1
10,922
187,796,
102,718
83
Bảng 5. Một số chỉ tiêu tài chính của các công ty niêm yết trên HOSE
năm 2006
STT Mã CK
Lợi nhuận sau
thuế
Khen thưởng,
phúc lợi Nợ Vốn chủ sở hữu
Vốn đầu tư của
chủ sở hữu Tỗng tài sản D/E D/A
1 ABT 25,057,000,000 45,594,000,000 72,079,000,000 33,000,000,000 117,673,000,000 63.26% 38.75%
2 ACL
3 AGF 46,616,000,000 167,953,623,248 300,315,602,162 78,875,780,000 468,269,225,410 55.93% 35.87%
4 ALP 15,237,000,000 105,470,909,082 66,979,913,080 50,000,000,000 172,450,822,162 157.47% 61.16%
5 ALT 3,189,000,000 113,571,060,391 25,040,136,632 13,347,000,000 138,611,197,023 453.56% 81.93%
6 ANV
7 ASP
8 BBC 19,183,000,000 59,586,278,134 183,358,849,394 89,900,000,000 242,945,127,528 32.50% 24.53%
9 BBT 2,258,000,000 37,129,000,000 78,165,000,000 115,294,000,000 47.50% 32.20%
10 BHS 47,421,000,000 235,902,963,783 353,878,010,259 162,000,000,000 589,780,974,042 66.66% 40.00%
11 BMC 18,845,000,000 1,609,134,631 9,924,749,617 46,113,261,388 13,114,000,000 56,038,011,005 21.52% 17.71%
12 BMP 84,948,000,000 42,697,926,494 375,588,863,777 139,334,000,000 418,286,790,271 11.37% 10.21%
13 BPC 7,898,000,000 19,252,946,265 61,421,832,329 38,000,000,000 80,674,778,594 31.35% 23.86%
14 BT6 31,388,000,000 320,425,819,835 288,030,078,109 100,000,000,000 608,455,897,944 111.25% 52.66%
15 BTC 295,000,000 26,011,000,000 7,737,000,000 33,748,000,000 336.19% 77.07%
16 CAN 8,331,000,000 33,495,179,318 52,098,642,430 35,000,000,000 85,593,821,748 64.29% 39.13%
17 CII 47,689,000,000 719,190,064,114 372,190,064,385 300,000,000,000 1,091,380,128,499 193.23% 65.90%
18 CLC 32,818,000,000 211,168,000,000 139,208,000,000 350,376,000,000 151.69% 60.27%
19 COM 12,293,000,000 1,599,340 67,492,208,561 79,040,128,027 34,000,000,000 146,532,336,588 85.39% 46.06%
20 CYC -7,241,000,000 119,447,000,000 106,494,000,000 225,941,000,000 112.16% 52.87%
21 DCC
22 DCT 28,768,000,000 31,874,000,000 160,063,000,000 191,937,000,000 19.91% 16.61%
23 DHA 22,613,000,000 879,645,000 7,798,000,000 184,583,000,000 192,381,000,000 4.22% 4.05%
24 DHG 87,060,000,000 11,840,113,834 312,405,792,075 170,441,022,621 80,000,000,000 482,846,814,696 183.29% 64.70%
25 DIC 8,626,000,000 48,203,989,733 52,924,870,055 32,000,000,000 101,128,859,788 91.08% 47.67%
26 DMC 48,597,000,000 159,388,605,999 220,830,267,338 107,000,000,000 380,218,873,337 72.18% 41.92%
27 DNP 9,127,000,000 45,875,655,812 33,350,625,941 20,000,000,000 79,226,281,753 137.56% 57.90%
28 DPC 2,734,000,000 18,015,463,408 21,701,823,169 15,872,800,000 39,717,286,577 83.01% 45.36%
29 DPM
30 DPR
31 DQC
32 DRC 55,379,000,000 367,572,582,199 141,121,868,463 92,475,000,000 508,694,450,662 260.46% 72.26%
33 DTT 5,101,000,000 4,277,597,754 27,163,180,452 20,000,000,000 31,440,778,206 15.75% 13.61%
34 DXP 11,465,000,000 1,000,000,000 46,096,215,612 54,670,339,678 35,000,000,000 100,766,555,290 84.32% 45.75%
35 DXV
36 FBT
37 FMC 31,581,000,000 104,445,535,241 113,399,110,185 60,000,000,000 217,844,645,426 92.10% 47.94%
38 FPC 33,684,000,000 309,537,344,222 286,142,955,694 150,000,000,000 595,680,299,916 108.18% 51.96%
84
39 FPT 450,436,000,000 1,720,207,153,018 1,565,842,208,518 608,102,300,000 3,286,049,361,536 109.86% 52.35%
40 GIL 23,044,000,000 43,875,750,068 144,108,552,134 45,500,000,000 187,984,302,202 30.45% 23.34%
41 GMC 9,717,000,000 2,363,321,332 81,915,900,992 39,514,201,472 22,750,000,000 121,430,102,464 207.31% 67.46%
42 GMD 156,108,000,000 9,366,479,956 737,421,000,000 636,657,000,000 1,374,078,000,000 115.83% 53.67%
43 GTA 13,849,000,000 48,683,083,230 110,058,370,526 84,077,500,000 158,741,453,756 44.23% 30.67%
44 HAP 16,906,000,000 83,623,000,000 158,262,000,000 241,885,000,000 52.84% 34.57%
45 HAS 17,475,000,000 4,722,902,092 136,016,568,173 66,111,338,692 25,000,000,000 202,127,906,865 205.74% 67.29%
46 HAX 2,009,000,000 33,876,999,916 23,629,012,681 16,257,300,000 57,506,012,597 143.37% 58.91%
47 HBC 9,044,000,000 904,661,222 63,124,503,881 69,383,705,040 56,399,900,000 132,508,208,921 90.98% 47.64%
48 HBD 2,472,000,000 2,302,907,911 18,178,145,779 20,481,053,690 12.67% 11.24%
49 HDC 10,386,000,000 354,707,000,000 77,327,000,000 432,034,000,000 458.71% 82.10%
50 HMC 22,004,000,000 254,703,978,430 181,655,534,863 158,000,000,000 436,359,513,293 140.21% 58.37%
51 HPG
52 HRC 142,641,000,000 77,338,714,670 286,025,255,442 96,000,000,000 363,363,970,112 27.04% 21.28%
53 HSI
54 HT1
55 HTV 14,515,000,000 16,035,368,985 82,344,999,038 48,000,000,000 98,380,368,023 19.47% 16.30%
56 ICF 10,841,000,000 135,214,000,000 123,848,000,000 259,062,000,000 109.18% 52.19%
57 IFS 60,354,000,000 227,033,000,000 397,862,000,000 624,895,000,000 57.06% 36.33%
58 IMP 42,276,000,000 70,494,879,299 234,175,656,615 84,000,000,000 304,670,535,914 30.10% 23.14%
59 ITA 148,773,000,000 1,010,706,359,041 570,902,137,364 450,000,000,000 1,581,608,496,405 177.04% 63.90%
60 KDC
160,680,290,813
351,069,602,896
585,302,835,201
299,999,800,000 936,372,438,097 59.98% 37.49%
61 KHA 12,578,000,000 2,043,218,839 35,098,768,172 107,153,234,421 66,876,320,000 142,252,002,593 32.76% 24.67%
62 KHP 27,517,000,000 1,592,567,972 190,526,297,634 184,614,086,048 163,221,000,000 375,140,383,682 103.20% 50.79%
63 L10 3,592,000,000 169,561,654,950 44,065,562,391 40,000,000,000 213,627,217,341 384.79% 79.37%
64 LAF -13,245,179,826 73,343,975,556
69,856,876,641
57,989,010,000 143,200,852,197 104.99% 51.22%
65 LBM 2,931,000,000
50,169,342,522
19,348,626,822
16,391,600,000 69,517,969,344 259.29% 72.17%
66 LGC 2,035,000,000 29,029,132,746 16,425,133,714 10,000,000,000 45,454,266,460 176.74% 63.86%
67 LSS
68 MAFPF1
69 MCP 4,972,000,000 35,245,249,000 56,598,025,159 30,000,000,000 91,843,274,159 62.27% 38.38%
70 MCV 3,664,000,000 161,693,000,000 35,257,000,000 196,950,000,000 458.61% 82.10%
71 MHC 15,704,000,000 1,603,206,000 88,374,000,000 105,907,000,000 194,281,000,000 83.44% 45.49%
72 MPC 77,082,000,000 335,728,216,212 685,455,050,814
600,000,000,000 1,021,183,267,026 48.98% 32.88%
73 NAV 18,574,000,000 68,662,723,833 40,682,440,250
25,000,000,000 109,345,164,083 168.78% 62.79%
74 NHC 6,264,000,000 3,185,000,000 18,747,000,000 21,932,000,000 16.99% 14.52%
75 NKD 60,745,000,000 8,752,353,742 129,961,432,325 200,989,938,666 84,000,000,000 330,951,370,991 64.66% 39.27%
76 NSC 7,909,000,000 33,406,278,841 62,237,257,923 30,000,000,000 95,643,536,764 53.68% 34.93%
77 NTL 104,409,000,000 250,325,000,000 144,372,000,000 394,697,000,000 173.39% 63.42%
78 PAC 20,297,000,000 142,976,000,000 123,378,000,000 266,354,000,000 115.88% 53.68%
79 PET
80 PGC 34,013,534,673 341,836,515,022 337,490,245,640
200,000,000,000 679,326,760,662 101.29% 50.32%
81 PIT 128,592,748,807 84,577,121,078 60,000,000,000 213,169,869,885 152.04% 60.32%
82 PJT 7,160,000,000 61,497,710,635 49,213,845,740
35,000,000,000 110,711,556,375 124.96% 55.55%
83 PMS 6,109,000,000 40,502,257,566
55,986,740,415 32,000,000,000 96,488,997,981 72.34% 41.98%
84 PNC 5,978,000,000 99,346,000,000 64,429,000,000 163,775,000,000 154.19% 60.66%
85 PPC 979,340,000,000 16,000,000,000 6,894,208,086,943 3,710,604,858,436 3,107,000,000,000 10,604,812,945,379 185.80% 65.01%
85
86 PRUBF1
87 PVD 124,522,000,000 1,382,566,714,000 791,591,587,000 680,000,000,000 2,174,158,301,000 174.66% 63.59%
88 PVT
89 RAL 46,289,000,000 350,072,855,359 139,277,182,704 79,150,000,000 489,350,038,063 251.35% 71.54%
90 REE 222,430,000,000 366,460,337,915 1,041,400,148,928 338,043,430,000 1,407,860,486,843 35.19% 26.03%
91 RHC 14,021,000,000 73,819,811,603 55,838,024,087 32,000,000,000 129,657,835,690 132.20% 56.93%
92 RIC 217,714,190,744 401,476,757,672 332,136,000,000 619,190,948,416 54.23% 35.16%
93 SAF 9,040,000,000 945,152,931 18,625,102,705 38,318,484,937 27,060,000,000 56,943,587,642 48.61% 32.71%
94 SAM 203,779,000,000 48,809,949,450 1,019,614,415,435 737,918,743,244 374,400,000,000 1,757,533,158,679 138.17% 58.01%
95 SAV 17,608,000,000
166,249,158,819
192,223,537,672
65,000,000,000 358,472,696,491 86.49% 46.38%
96 SBT 99,866,804,634 1,419,258,412,923 1,524,042,639,000 1,519,125,217,557 7.04% 6.57%
97 SC5
485,839,017,485
42,204,165,598
25,000,000,000 528,043,183,083 1151.16% 92.01%
98 SCD 18,733,000,000 40,083,732,030 111,586,921,384 85,000,000,000 151,670,653,414 35.92% 26.43%
99 SDN 2,452,000,000 14,894,550,487 13,368,989,007
11,400,000,000 28,263,539,494 111.41% 52.70%
100 SFC 7,805,000,000 30,066,461,179 37,590,734,187 17,000,000,000 67,657,195,366 79.98% 44.44%
101 SFI 16,309,000,000 97,666,575,585 37,430,471,346 11,385,008,054 135,097,046,931 260.93% 72.29%
102 SFN 6,907,000,000 1,366,094,370 39,084,307,348
30,000,000,000 40,450,401,718 3.50% 3.38%
103 SGC 17,981,000,000 12,827,068,349 65,532,943,315 40,887,000,000 78,360,011,664 19.57% 16.37%
104 SGH 2,879,000,000 1,254,452,319 23,767,728,955 17,662,969,959 25,022,181,274 5.28% 5.01%
105 SGT 19,043,000,000 158,968,585,410 69,030,944,019
50,000,000,000 227,999,529,429 230.29% 69.72%
106 SHC 3,236,000,000 15,162,766,724 18,801,244,628 14,000,000,000 33,964,011,352 80.65% 44.64%
107 SJ1 5,695,000,000 11,340,503,341 29,647,668,368 20,000,000,000 40,988,171,709 38.25% 27.67%
108 SJD 62,610,000,000 2,712,000,000 1,019,456,000,000 272,757,000,000 1,292,213,000,000 373.76% 78.89%
109 SJS 119,845,000,000 10,196,250,612
393,530,025,117
542,693,716,122
50,000,000,000 936,223,741,239 72.51% 42.03%
110 SMC 22,611,000,000 1,732,399,113
295,121,136,722
101,922,540,689
60,000,000,000 397,043,677,411 289.55% 74.33%
111 SSC 19,235,000,000 24,184,299,310 117,252,895,347 60,000,000,000 141,437,194,657 20.63% 17.10%
112 SSI 242,031,000,000 48,406,106,628 2,522,270,608,261 1,207,284,615,107 500,000,000,000 3,729,555,223,368 208.92% 67.63%
113 ST8 16,571,000,000 66,621,199,713 54,464,289,649 33,880,000,000 121,085,489,362 122.32% 55.02%
114 STB 470,128,000,000 68,201,849,464 21,905,837,000,000 2,870,346,000,000 2,248,726,000,000 24,776,183,000,000 763.18% 88.41%
115 TAC 283,303,168,621 264,105,498,823 189,802,000,000 547,408,667,444 107.27% 51.75%
116 TCM
117 TCR 533,936,230,573 515,405,549,775
299,735,940,000 1,049,341,780,348 103.60% 50.88%
118 TCT 7,535,891,179 35,586,907,995
15,985,000,000 43,122,799,174 21.18% 17.48%
119 TDH 79,859,000,000
307,925,049,641
512,119,037,909
170,000,000,000 820,044,087,550 60.13% 37.55%
120 TMC 10,599,000,000 1,805,310,860 55,261,000,000 41,923,000,000 97,184,000,000 131.82% 56.86%
121 TMS 15,918,000,000 56,412,763,587 90,691,480,743 42,900,000,000 147,104,244,330 62.20% 38.35%
122 TNA 6,037,000,000 51,021,923,756 20,945,161,002 13,000,000,000 71,967,084,758 243.60% 70.90%
123 TNC
124 TPC
125 TRC
126 TRI 8,688,000,000 148,853,907,475 62,487,026,750 45,483,600,000 211,340,934,225 238.22% 70.43%
127 TS4 6,060,000,000 40,449,000,000 53,255,000,000 93,704,000,000 75.95% 43.17%
128 TSC 12,448,000,000 237,250,960,308 84,149,138,347 68,811,300,000 321,400,098,655 281.94% 73.82%
129 TTC 7,597,000,000 159,988,773,789 46,870,130,482
40,000,000,000 206,858,904,271 341.34% 77.34%
130 TTF 413,573,820,567 60,941,881,751 50,114,400,000 474,515,702,318 678.64% 87.16%
131 TTP 55,411,000,000 316,809,688,827 77.08% 43.53%
86
137,899,502,767 178,910,186,060 106,550,000,000
132 TYA 32,470,000,000 848,227,522,000 299,058,623,000 1,147,286,145,000 283.63% 73.93%
133 UIC 231,181,000,000 25,662,000,000 256,843,000,000 900.87% 90.01%
134 UNI 2,727,162,164
7,368,281,014
13,745,670,322
10,000,000,000 21,113,951,336 53.60% 34.90%
135 VFC 13,063,000,000 217,833,864,959 71,988,367,524 57,756,270,000 289,822,232,483 302.60% 75.16%
136 VFMVF1
137 VGP 15,896,000,000 51,668,992,677 53,990,195,905 38,850,200,000 105,659,188,582 95.70% 48.90%
138 VHC
139 VHG 63,437,000,000 180,863,533,439 87,086,988,050 40,000,000,000 267,950,521,489 207.68% 67.50%
140 VIC 343,772,000,000 79,886,941,354 594,521,424,294 313,500,000,000 674,408,365,648 13.44% 11.85%
141 VID 10,682,000,000 112,629,453,421 108,177,145,935 84,557,000,000 220,806,599,356 104.12% 51.01%
142 VIP 81,382,000,000 234,924,343,244 455,272,685,426
351,000,000,000 690,197,028,670 51.60% 34.04%
143 VIS 13,977,000,000 1,030,000,000 662,057,764,539 116,213,291,453 100,000,000,000 778,271,055,992 569.69% 85.07%
144 VNE 42,792,000,000 545,460,934,194 183,240,360,661 150,000,000,000 728,701,294,855 297.68% 74.85%
145 VNM 731,585,000,000 862,150,000,000 2,738,383,000,000 1,590,000,000,000 3,600,533,000,000 31.48% 23.95%
146 VPK 9,291,000,000 64,753,449,523
89,784,918,597
76,000,000,000 154,538,368,120 72.12% 41.90%
147 VPL 823,738,541,154 314,948,779,605 370,000,000,000 1,138,687,320,759 261.55% 72.34%
148 VSC 45,123,000,000 133,814,376,593 146,598,046,671 57,991,500,000 280,412,423,264 91.28% 47.72%
149 VSH 270,592,000,000 546,436,502,946 1,337,605,087,208 1,250,000,000,000 1,884,041,590,154 40.85% 29.00%
150 VTA 2,369,000,000 269,993,348,884
44,153,043,841
40,000,000,000 314,146,392,725 611.49% 85.95%
151 VTB 21,833,000,000 115,515,522,025 91,977,231,859
70,000,000,000 207,492,753,884 125.59% 55.67%
152 VTC 724,000,000 944,433,413 35,485,278,071 36,901,195,497 24,150,000,000 72,386,473,568 96.16% 49.02%
153 VTO 596,845,902,567 490,623,956,531 400,000,000,000 1,087,469,859,098 121.65% 54.88%
87
TÀI LIỆU THAM KHẢO
1/ Tài chính doanh nghiệp hiện đại (2005), GS. TS. Trần Ngọc Thơ, NXB
Thống kê.
2/ “Chia cổ tức: Nên chia bằng cổ tức hay tiền mặt?” (04/2008), Báo cáo,
Công ty chứng khoán SME.
3/ “Quyết định chính sách cổ tức của công ty”, Chương trình Giảng dạy Kinh
tế Fulbright
4/ “Thuế chứng khoán: Thu làm sao?”, ThS. Lê Đạt Chí, tạp chí “Đầu tư
chứng khoán”.
5/ “Dividend Policy in Switzerland” (2004), Bogdan Stacescu.
6/ “Dividend Policy inside the Multinational Firm” (2006), Mihir A. Desai, C.
Fritz Foley & James R. Hines Jr.
7/ “Dividend Policies of Japanese Firms: An Agency Theory Perspective”
(2006), Hisao Miyagawa.
8/ “Dividend Policies in an Unregulated Market: The London Stock Exchange
1900-05”, Fabio Braggion & Lyndon Moore.
9/ “Dividend policy theories and their empirical tests”, George M. Frankfurter
& Bob G. Wood, Jr.
10/ “Dividend Policy in the European Union” (2006), Henk von Eije &
William Megginson.
11/ Bản tin Thị trường Chứng khoán (HOSE), các số năm 2005, 2006, 2007,
2008.
12/ Website Công ty Chứng khoán VNDirect, www.vndirect.com.vn .
13/ Website Công ty Chứng khoán FPT, www.fpts.com.vn .
14/ Website Công ty Chứng khoán Sài Gòn, www.ssi.com.vn .
Các file đính kèm theo tài liệu này:
- Bai hoan chinh.pdf