The Board of Directors of Thanh Thanh Cong - Bien Hoa Joint Stock Company (TTC AgriS, code SBT, HOSE) has just approved the plan to issue shares to pay dividends for the two fiscal years 2022-2023 and 2023-2024.
TTC AgriS prepares to issue 74 million shares with 10% dividend rate
The Board of Directors of Thanh Thanh Cong - Bien Hoa Joint Stock Company (TTC AgriS, code SBT, HOSE) has just approved the plan to issue shares to pay dividends for the two fiscal years 2022-2023 and 2023-2024.
Specifically, TTC AgriS will issue more than 74 million new shares at a rate of 10%, meaning each shareholder owning 100 shares will receive 10 more shares.
Any fractional shares, if any, will be cancelled. The issuance is expected to take place in the first quarter of 2025, using undistributed after-tax profits based on the audited semi-annual financial report for 2023-2024.
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| TTC AgriS sugarcane farm in Tay Ninh |
At the end of the first quarter of the 2024-2025 fiscal year (from July 1, 2024 to September 30, 2024), TTC AgriS recorded net revenue of VND 6,822 billion, an increase of 7% over the same period last year. Pre-tax profit also increased by 5%, reaching VND 265 billion. Gross profit margin improved significantly, from 10.9% to 12.3%. The company targets revenue of VND 26,168 billion and pre-tax profit of VND 900 billion for the entire 2024-2025 fiscal year. Thus, after the first quarter, TTC AgriS has completed 26% of the revenue target and 29% of the profit target.
Consumption output was more than 344.3 thousand tons of sugar, up 10% over the same period, in which the export channel and domestic MNC channel both grew well, with increases of 11% and 32% over the same period, respectively. The FBMC segment was a bright spot in the business picture this quarter, when revenue grew impressively and reached VND 108 billion, 3 times higher than the same period last year thanks to the Company's continuous launch of new nutritional beverage product lines such as C-Cane Crush and bottled XIM coconut water. TTC AgriS aims for FBMC revenue to account for 40% of total revenue by 2030. As of September 30, 2024, the scale of TTC AgriS has also been expanded with total assets reaching more than VND 34,369 billion, continuing to affirm the Company's strong financial potential.
In October 2024, TTC AgriS announced its investment plan of up to 40% of the charter capital of Ben Tre Import Export Joint Stock Company (Betrimex), a leading company in Vietnam in the field of manufacturing, distributing and trading coconut products, with the implementation period from October 2024 to completion, in the fiscal year 2024-2025. The successful investment in East Forged and soon Betrimex will contribute to strengthening TTC AgriS's internal strength in anticipating market trends, customer needs, as well as perfecting the Company's ecosystem of products and services throughout the strategy of expanding into the FBMC industry.
According to the strategic orientation, in addition to M&A activities, TTC AgriS will promote offering and restructuring the portfolio of investments not in the agricultural value chain to focus all efforts on the Company's core activities, aiming to bring high value to shareholders as well as stakeholders.
Source: https://baodautu.vn/ttc-agris-chuan-bi-phat-hanh-74-trieu-co-phieu-chia-co-tuc-ty-le-10-d231641.html
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