Thien Long Ballpoint Pen (TLG) pays 10% dividend, Chairman Co Gia Tho's company earns 37 billion VND in dividends

Thien Long pays its second dividend in cash at a rate of 10%.

Thien Long Group Joint Stock Company (Code: TLG) has just announced the closing of the shareholder list for the second dividend payment of 2023 in cash. The dividend will be paid at a rate of 10%, meaning each shareholder owning one share will receive 1,000 VND in cash.

The dividend payment is scheduled for September 13, 2024. Currently, there are 78.6 million TLG shares outstanding on the market. Therefore, Thien Long is expected to pay approximately 78.6 billion VND in dividends this time.

Thien Long Group (TLG) plans to pay a dividend of 10%, with the company chaired by Co Gia Tho earning 37 billion VND in dividends (Photo: TL).

Previously, in July 2023, Thien Long paid an interim dividend for the first quarter of 2023 to shareholders at a rate of 15%. Thus, in total, Thien Long paid dividends to shareholders at a rate of 25% in cash in 2023.

Regarding the shareholder structure, Thien Long An Thinh Investment Company, chaired by Ms. Co Gia Tho, is the largest shareholder, holding 37.35 million shares, equivalent to 47.52%. Therefore, the company will receive over 37 billion VND in dividends.

Besides the option of paying dividends in cash, at the 2024 Annual General Meeting, Thien Long approved a plan to pay dividends in shares at a rate of 10%. According to this plan, Thien Long will issue an additional 7.86 million shares to pay dividends to shareholders immediately after the issuance plan is approved by the State Securities Commission.

Revenue growth is driven by the recovery of export markets.

In terms of business performance, in Q2/2024, Thien Long recorded net revenue of VND 1,207 billion, an increase of 13% compared to the same period last year. After-tax profit reached VND 241.5 billion, an increase of 43.6% compared to 2023.

Notably, gross profit for the period reached VND 586 billion, corresponding to an improved gross profit margin from 44.7% to 48.5%.

Financial income in Q2 increased significantly, reaching VND 20.9 billion thanks to exchange rate fluctuations. Meanwhile, financial expenses were also reduced by almost half, decreasing from VND 9 billion to VND 5.2 billion.

Business management expenses and selling expenses amounted to VND 90.9 billion and VND 206.5 billion respectively. Other income reached VND 891 million.

For the first six months of 2024, Thien Long achieved revenue of VND 2,015.8 billion, an increase of 1.4% compared to the same period last year. Cumulative after-tax profit reached VND 329.8 billion, an increase of 23%. After-tax profit attributable to shareholders of the parent company reached VND 330.6 billion, an increase of 22.5% compared to the first half of 2023.

According to Thien Long, the recovery in domestic market purchasing power and the growth in export revenue also contributed to Thien Long's growth momentum in the second quarter.

Major shareholder Cayman Holdings Ltd is divesting a portion of its stake.

Besides the positive business results in the second quarter, Thien Long's shareholder structure also saw significant changes. At the end of July, Thien Long Group announced that its major shareholder, NWL Cayman Holdings Ltd, had sold 2 million TLG shares.

These shares were sold during the trading session on July 25, 2024, with a total value of approximately VND 100.4 billion.

Previously, NWL Cayman Holdings, a fund from the Cayman Islands, became a major shareholder of Thien Long Group in 2019 after purchasing 5 million TLG shares. This amount of shares is equivalent to 7.1% of the charter capital.

Following the recent sale of 2 million shares, NWL Cayman Holdings reduced its ownership stake from 7% to 4.46% of the charter capital, equivalent to 3.5 million shares, officially ceasing to be a major shareholder of Thien Long Group.

In TLG's current shareholder structure, the largest shareholder remains Thien Long An Thinh Investment Joint Stock Company with a 47.52% ownership stake. Chairman Co Gia Tho holds 6.27% and is also the Chairman of the Board of Directors at Thien Long An Thinh Investment.

Source: https://www.congluan.vn/but-bi-thien-long-tlg-tra-co-tuc-10-cong-ty-cua-chu-tich-co-gia-tho-thu-ve-37-ty-dong-co-tuc-post308457.html