The total cumulative dividend amount that Thai Beverage is expected to receive after 7 years of acquiring Sabeco is about 13,000 billion VND. However, investors still assess that the nearly 5 billion USD investment of the Thai billionaire in the Vietnamese beer company is losing money...
Saigon Beer Factory in District 5, Ho Chi Minh City - Photo: QUANG DINH
Thai billionaire will receive trillions from Sabeco at the beginning of the new year
Saigon Beer - Alcohol - Beverage Corporation - Sabeco (SAB) has just announced the resolution of the board of directors on interim dividend payment for 2024.
Accordingly, Sabeco has decided to pay a cash dividend of 20% for 2024, meaning each share will receive VND2,000. The expected payment date is January 23, 2025.
With more than 1.28 billion shares in circulation, Sabeco will have to spend nearly VND2,600 billion for this interim dividend payment.
Currently, Vietnam Beverage Company Limited belongs to Thai Beverage Group of Thai billionaire Charoen Sirivadhanabhakdi, owning nearly 53.6% of Sabeco's capital.
It is estimated that the largest Thai shareholder will receive nearly VND1,400 billion at the beginning of the new year. Meanwhile, the second largest shareholder of Sabeco, SCIC, is estimated to receive nearly VND940 billion thanks to holding 36% of the capital.
According to the resolution of the 2024 annual shareholders' meeting, Sabeco plans to pay 2024 cash dividends at a rate of 35%, equivalent to each share receiving 3,500 VND.
Of which, the first is expected to take place early next year as mentioned above. If received in full as planned, Thai shareholders are expected to receive about 2,400 billion VND in dividends in 2024.
Since the end of 2017, Sabeco has been paying high cash dividends. This also means that every year, Thai shareholders regularly receive thousands of billions of VND from investing in Sabeco.
After 7 years of acquiring Sabeco, the total cumulative dividend amount Thai Beverage is estimated to receive is about 13,000 billion VND.
Thai people are losing money because of Sabeco stock price?
At the end of 2017, Sabeco fell into the hands of a Thai billionaire's group after a shocking acquisition in the Vietnamese stock market.
Accordingly, Thaibev, through Vietnam Beverage, spent up to VND110,000 billion (USD4.8 billion) to buy the entire lot of 343.66 million SAB shares from the divestment of the Ministry of Industry and Trade .
The price at which Thai people bought each Sabeco share at that time was up to 320,000 VND, nearly 4% higher than the market price at that time.
By the end of last year, Sabeco decided to issue bonus shares to shareholders to increase its equity capital at a ratio of 1:1, meaning 1 shareholder receives 1 new share. Thaibev's adjusted purchase price was VND160,000/share.
However, SAB's stock price on the stock market has continuously decreased over the past few years, in the context of Decree 100 on alcohol concentration being tightened, now only 55,300 VND/share at the end of the session on November 1.
The price is only 35% of the price that Thaibev paid 7 years ago. Looking at the stock price movements on the stock exchange, some opinions say that the Thai billionaire has lost money with the billion-dollar investment in a Vietnamese beer company with a large market share.
Commenting to Tuoi Tre Online , the director of a securities company in Ho Chi Minh City said that Sabeco's SAB stock price has adjusted very strongly. "No matter how you calculate it, including dividends, the Thai billionaire's investment at an extremely high price of nearly 5 billion USD is still losing both capital cost and opportunity cost," he said. However, according to the expert, investing a large amount of capital is "a billionaire's problem", and it is difficult to comment and evaluate their investment efficiency and strategy...
Meanwhile, in the annual report for many years, Mr. Koh Poh Tiong - Chairman of Sabeco 's Board of Directors - often affirmed "continued commitment to invest in opportunities to promote long-term growth".
At the same time, Mr. Koh Poh Tiong said that the company always aims to maximize shareholder value, providing shareholders with sustainable and increasing dividend income over time, in line with long-term growth prospects.
What Thai shareholders "think"
A major difficulty that Sabeco regularly mentions in its annual reports and business results explanations is the tightening of alcohol concentration according to Decree 100.
Mr Koh Poh Tiong said the company is striving to successfully defend and increase its market share in a highly competitive and challenging environment, which has been heavily impacted by the strict enforcement of drink-driving regulations in Vietnam.
In an analysis report on Sabeco, Mr. Truong Sy Phu, an analyst at Bao Viet Securities, said that the authorities' persistence in managing alcohol consumption, rejecting proposals to change the minimum fine, increasing patrols, and a potential tax increase roadmap from 2026 will make Sabeco's medium-term picture "more bleak".
Source: https://tuoitre.vn/nguoi-thai-nhan-13-000-ti-dong-tien-co-tuc-khoan-dau-tu-vao-bia-sai-gon-van-lo-nang-20241103170742778.htm
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