We attended DPM’s analyst meeting on November 4. The meeting discussed 9M 2022 results, Q4 2022 sales volume guidance and DPM’s tentative EGM. Below are our key takeaways.

DPM plans to hold an EGM in December 2022 to obtain shareholder opinion on 1) payment for a historical extra input gas transportation cost and 2) a proposal for an upward adjustment for the 2022 dividend.

DPM recorded payment for extra input gas transportation cost in Q2 2022 results. This amount is USD18.09mn (VND420bn) for the 2014-2018 period and paid to PetroVietnam Gas (HOSE: GAS). This issue was previously received the disapproval of shareholders, as mentioned in our June 23, 2022 DPM AGM Note.