Son La Sugarcane is about to pay 200% dividend

Son La Sugarcane Joint Stock Company (stock code SLS) has just announced the closing of the list of dividend recipients for the 2023-2024 fiscal year at a rate of 200%, meaning each share receives 20,000 VND in cash.

Son La Sugarcane Joint Stock Company held its annual general meeting of shareholders in early September, approving the adjustment of the 2023-2024 dividend payout ratio from 100% to 200% in cash. This is the company's highest level ever.

The company will spend about VND196 billion from the remaining undistributed after-tax profit of the 2023-2024 fiscal year to pay dividends to nearly 9.8 million outstanding shares. The last registration date to receive dividends is September 25 and payment is on October 16.

Thai Lien Company Limited, which owns 15% of Son La Sugarcane's charter capital, will receive more than VND29 billion. In addition, two major individual shareholders, Ms. Tran Thi Thai (holding 27.43% of charter capital) and Chairman of the Board of Directors of the company, Mr. Dang Viet Anh (holding 9.84% of charter capital), will receive nearly VND54 billion and VND19 billion, respectively.

Son La Sugarcane is a company with a history of paying high dividends regularly. Most recently, the company paid a cash dividend 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%.

The 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 approximately VND 1,412 billion. Profit after tax reached more than VND 526.3 billion, an increase of less than 1% over the same period but continued to set a new record. Compared to the net revenue plan of VND 1,045.5 billion and profit of VND 136.9 billion, the company exceeded the set targets by 35% and 284.2%, respectively.

The company set a business plan for the 2024-2025 fiscal year with a target of net revenue of VND 1,097 billion and after-tax profit of VND 150 billion, down 22% and 72% respectively compared to the previous fiscal year.

The Board of Directors forecasts that in the 2024-2025 crop, the sugar industry will continue to face many difficulties, the world conflict is still tense, leading to many consequences affecting the economy . Son La province is dry, hot for a long time, erratic floods, fierce competition for sugarcane land with other crops reduces output and increases costs for raw sugarcane.

At the end of the 2023-2024 fiscal year, the company has total assets of about 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, of which all are short-term debts. Owner's equity increased by 31.6% compared to the beginning of the year, to VND 1,555 billion. Undistributed profit after tax reached VND 1,398 billion.

SLS ranks second in the list of stocks with the highest market value on the HNX, just behind WCS. This code has increased slightly for 4 consecutive sessions, reaching 209,300 VND. This is the record high price of SLS since it started trading on the stock exchange in mid-October 2012. The market capitalization is currently over 2,053 billion VND.

Source: https://baodautu.vn/mia-duong-son-la-sap-chia-co-tuc-200-d224883.html