Son La Sugar Company: Dividend payout of a massive 200% moved to November.
The list of shareholders eligible for cash dividends for the years 2023-2024 will be finalized by Son La Sugar Company on October 10th.
The planned dividend payout of a massive 200% has been moved to November.
Việt Nam•02/10/2024 |
| Son La Sugar Company pays a 200% dividend for the fiscal year from July 1, 2023 to June 30, 2024. |
Son La Sugar Corporation (SLS, HNX exchange) announced that October 10, 2024 will be the record date for shareholders to receive cash dividends for the 2023-2024 fiscal year at a rate of 200% per share (20,000 VND per share). Therefore, the ex-dividend date is October 9, 2024, and the dividends will be paid to shareholders on November 4, 2024.
With 9.8 million shares outstanding, Son La Sugar Company is expected to spend approximately 196 billion VND to pay dividends to shareholders in this round.
Previously, the company also announced Board of Directors Resolution No. 29, notifying that the last registration date for the payment of cash dividends for the years 2023-2024 at a rate of 200% per share is September 25, 2024. The payment date according to this Resolution is October 16, 2024. Compared to the initial announcement, the dividend payment date for shareholders has been delayed by more than two weeks.
At the annual general meeting of shareholders in early September 2024, the company's shareholders approved adjusting the dividend payout ratio for the 2023-2024 fiscal year from 100% to 200% in cash. This is the highest level the company has ever achieved in its operating history.
Son La Sugar Company has a history of consistently paying high dividends. Most recently, the company distributed cash dividends to shareholders for the 2022-2023 fiscal year at a rate of 150%, and for the 2021-2022 fiscal year at a rate of 100%.
A record dividend was approved after the company announced positive business results. Specifically, at the end of the 2023-2024 fiscal year (June 30, 2023 – June 30, 2024), the company recorded net revenue of VND 1,412 billion. After-tax profit reached over VND 526.3 billion, an increase of less than 1% compared to the same period but continuing to set a new record. Compared to the planned net revenue of VND 1,045.5 billion and profit of VND 136.9 billion, the company exceeded the targets by 35% and 284.2% respectively.
Reportedly, the company has set its business plan for the 2024-2025 fiscal year with a target of 1,097 billion VND in net revenue and 150 billion VND in after-tax profit, representing decreases of 22% and 72% respectively compared to the previous fiscal year's performance.
At the end of the 2023-2024 fiscal year, the company had total assets of approximately VND 1,696 billion, an increase of VND 345 billion compared to the beginning of the period. Liabilities decreased from VND 161 billion to VND 141 billion, all of which were short-term liabilities. Equity increased by 31.6% compared to the beginning of the year, reaching VND 1,555 billion. Undistributed after-tax profit reached VND 1,398 billion.
On the stock market, SLS shares are currently trading at 205,200 VND per share, representing an increase of over 40% compared to the end of last year.
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