Chairman's family received more than 160 billion VND in dividends in 2 years

Song Hong Garment plans to pay dividends on December 22.

With 75 million shares in circulation, the amount that Song Hong Garment plans to spend on this dividend payment is about 188 billion VND, equivalent to the dividend payment in 2022.

Notably, Mr. Bui Duc Thinh, Chairman of the Board of Directors and the largest shareholder of Song Hong Garment, is expected to receive about VND45 billion in cash dividends while holding nearly 24% of charter capital.

In 2022, Mr. Thinh will also receive a dividend equivalent to the upcoming dividend.

In 2 years, the dividend amount that the Chairman of the Board of Directors received was about 90 billion VND.

msh stock.png — *Song Hong Garment Chairman and 2 children receive 160 billion VND in dividends for the two years 2022-2023.*

In addition, Mr. Thinh's two children, Mr. Bui Viet Quang, Member of the Board of Directors and General Director (holding 11.35%) and Ms. Bui Thu Ha (holding 7.72%) are major shareholders of Song Hong Garment from 2022 to the end of September 2023). The total amount of money Mr. Quang and Ms. Ha receive in 2022 and 2023 from dividends is estimated at 72 billion VND.

Thus, the amount of money that Chairman Thinh's family receives from dividends in 2022 and 2023 is about over 160 billion VND.

At the General Meeting of Shareholders in April, the Board of Directors of Song Hong Garment said that this year the company plans to pay dividends at a rate of 15-35%.

According to the consolidated financial report for the third quarter of 2023, Song Hong Garment's net revenue reached more than VND 1,200 billion, down 25% year-on-year; profit after tax reached VND 51 billion, down more than 50% year-on-year.

In the first 9 months of the year, Song Hong Garment's revenue reached 3,385 billion VND, down 23% over the same period last year. Profit after tax decreased by 41% over the same period in 2022, to nearly 164 billion VND.

This dividend payment of Song Hong Garment even exceeds the company's after-tax profit in 9 months.

As of the end of the third quarter, Song Hong Garment's undistributed profit after tax reached VND819 billion. The company has about VND631 billion in bank deposits and VND859 billion in bond investments.

At the end of the trading session on November 24, MSH shares reached 38,000 VND/share.

Business News

The stock market has a number of other important events of listed companies.

* CC1: The Board of Directors of Construction Corporation No. 1 agreed on the policy of divesting investment capital in three companies, expected to earn no less than 306 billion VND.

* VAV: VIWACO Joint Stock Company said it has received a decision to impose administrative penalties on tax violations from the Hanoi Tax Department due to violations of value added tax, corporate income tax and the use of sales invoices.

* ROS: On November 22, the State Securities Commission issued a decision to impose a fine of VND 92.5 million for administrative violations in the field of securities and the securities market against FLC Faros Construction JSC related to the audited financial statements of 2021 and 2021.

* MWG: Mobile World Investment Corporation announced that it will conduct a comprehensive restructuring to adapt to the volatile business context, including closing 200 ineffective stores in the fourth quarter of 2023.

* MPC: The Board of Directors of Minh Phu Seafood Corporation approved a social housing project with a total investment of nearly 633 billion VND, an area of 17.67 hectares in Ca Mau province.

* LTG: Endurance Capital fund group sold 1.32 million LTG shares of Loc Troi Group Corporation, thereby no longer being a major shareholder of this company from November 21.

* NVS: Navibank Securities JSC announced that it has received a share transfer application from Mr. Nguyen Hoang Ky Lan to Mr. Huynh Nguyen Tan Bach. Mr. Bach received a transfer of 700,000 shares, equivalent to 2.778% of capital.

* VCG: Vietnam Construction and Import-Export Corporation bought 1.15 million VCC shares of Vinaconex 25 JSC on November 16.

* CII: Ho Chi Minh City Infrastructure Investment JSC has just registered to sell nearly 7.97 million SII shares of Saigon Water Infrastructure JSC to balance its finances. The transaction is expected to take place from November 28 to December 27.

VN-Index

At the end of the trading session on November 24, VN-Index increased by 7.12 points (+0.65%) to 1,095.61 points, HNX-Index increased by 1.56 points (+0.7%) to 226.1 points, UpCOM-Index increased by 0.04 points (+0.05%) to 84.99 points.

Financial Investment Corporation (LCTV) said that many stocks such as securities and real estate have increased sharply in the short term from 15-20%. Therefore, this group of stocks faced profit-taking pressure, causing the general market to decrease, especially at the end of the session on November 23.

However, LCTV assesses that this is just a short-term profit-taking phenomenon. The market being below 1,100 is a technical adjustment to create the second bottom of the VN-Index, to prepare for the growth trend in the upcoming period.

LCTV maintains its view that the market has bottomed at 1,020 points. Macro indicators such as inflation, exchange rates and monetary policy currently support investment in assets such as stocks.

VNDirect Securities commented that the cooling pressure on exchange rates creates conditions for the State Bank to stop issuing treasury bills and pump liquidity back into the banking system.

Some commercial banks continued to adjust their deposit interest rates, including BIDV, which reduced its 12-month deposit interest rate to 4.8%. These developments show that the domestic monetary policy environment continues to be maintained in a loose direction (supporting economic recovery and growth).

Issuing ESOP shares at a 'bargain' price, leaders and employees profit 25 times more . With the right to buy at par value, while on the market IDP shares are priced at nearly 260,000 VND/share, International Milk employees are benefiting more than 25 times more.

Source