The 2023 dividend is 33.5% - the highest rate since the company went public. The entire payment will be in cash, paid in two installments.
Ben Thanh Trading - Service Joint Stock Company (code BTT - HoSE) said it will close the right to pay 2023 cash dividend at a rate of 33.5% on September 5, 2024, equivalent to a payment of VND 3,350 per share. The ex-right date is September 4, 2024.
This is also the highest dividend rate of this unit since its listing on the stock exchange. With 13.5 million outstanding shares, Ben Thanh Trade - Service will pay more than 45.2 billion VND in this dividend payment. Ben Thanh Corporation is the largest shareholder, owning 41.39% of Ben Thanh Trade - Service's capital, equivalent to 5.59 million shares and the dividend amount received is 18.7 billion VND. Dividends will be paid in 2 installments, of which, the first installment on September 17, 2024, the company will pay 20% (2,000 VND/share), the second installment on November 6, 2024 with a payment rate of 13.5% (1,350 VND/share).
Ben Thanh TSC was formerly Ben Thanh General Trading Company, a state-owned enterprise under Ben Thanh Corporation. Its main business lines are trading, general import and export of various products; restaurant and real estate business, etc.
The decision to pay a record high dividend was approved in the context of Ben Thanh TSC's significant recovery in 2023 when it returned to near pre-pandemic business results (2019). In 2023, the company's consolidated profit after tax reached VND 49 billion, 2.79 times higher than the previous year. The stable business situation and the provision for investment in associates were the main reasons for the impressive recovery in business results.
According to the financial report for the second quarter of 2024, the company achieved 70 billion VND in net revenue, an increase of 28.5% over the same period last year. Cost of goods sold increased by 37.31%, resulting in a 19.76% increase in gross profit. Meanwhile, expenses such as business management and sales expenses both increased, resulting in net profit after tax reaching only 11.79 billion VND, down 29.1% over the same period. Accumulated net revenue in the first half of the year reached 136 billion VND, up 23%, while net profit reached 24.48 billion VND, down 16%.
At the 2024 annual general meeting of shareholders, the company approved a plan for total consolidated revenue of nearly 249 billion and pre-tax profit of more than 52 billion, up 2% and down 17% respectively compared to the previous year. The parent company's target after-tax profit is more than 46 billion. Thus, this unit has completed 53% of the profit plan after 6 months.
As of June 30, 2024, the company's total assets were VND524 billion, up 3% compared to the beginning of the year. The company currently has nearly VND124 billion in undistributed profit after tax. On the stock market, BTT shares are trading at around VND40,000/share, up 38% compared to the beginning of the year.
Source: https://baodautu.vn/loi-nhuan-hoi-phuc-manh-ben-thanh-tsc-manh-tay-tra-co-tuc-d223198.html
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