Saigon Beer, Duc Giang Chemicals increase dividend payments to investors

Saigon Beer - Alcohol - Beverage Corporation ( Sabeco ) has just announced the documents for the 2023 annual general meeting of shareholders, scheduled to take place in Ho Chi Minh City on April 27. In which, Sabeco proposed to increase the special dividend payment in 2022 by 15% of par value (equivalent to VND 1,500/share).

Previously, at the 2022 annual shareholders' meeting, the company's shareholders approved the plan to pay 2022 cash dividends at a rate of 35%, which Sabeco has so far paid. Thus, including the special dividend, Sabeco shareholders will receive a total dividend for 2022 of up to 50%.

Sabeco increases 2022 dividend to 50%

In addition, Sabeco plans to submit to shareholders a plan to issue more than 641.2 million shares to existing shareholders to increase charter capital, equivalent to 100% of outstanding shares. The implementation ratio is 1:1, meaning that shareholders owning 1 share will receive 1 new share.

The additional shares will not be subject to transfer restrictions. The source of implementation will be taken from undistributed profit after tax as of December 31, 2022. The expected implementation time is in 2023 after being approved by the State Securities Commission. If the issuance is successful, Sabeco's charter capital is expected to increase from VND6,413 billion to VND12,826 billion.

Regarding the business plan, in 2023, the company sets a target of revenue of VND 40,272 billion and profit after tax of VND 5,775 billion, up 15% and 5% respectively over the same period last year.

Similarly, Duc Giang Chemical Group Joint Stock Company (DGC) will close the list of shareholders to pay the remaining 2022 cash dividend at a rate of 10%, corresponding to shareholders owning 1 share will receive 1,000 VND. Previously, in early January 2023, the company made an interim payment of 2022 cash dividend at a rate of 30%. Thus, the total dividend payment in 2022 is 40% in cash, higher than the plan approved at the 2022 annual shareholders' meeting.

The increased dividend rate was approved by the 2023 annual general meeting of shareholders. Duc Giang Chemical shareholders also approved the 2023 business plan with the expected consolidated revenue target of VND 10,875 billion and after-tax profit of VND 3,000 billion, down 50% compared to 2022. The expected dividend according to the proposal is 30% but has not been finalized in cash or shares because it depends on the actual investment capital needs in 2023.

Source: https://thanhnien.vn/bia-sai-gon-hoa-chat-duc-giang-tang-muc-chia-co-tuc-cho-nha-dau-tu-185230407104807342.htm