Bibica pays 15% cash dividend

Bibica announced to spend more than 28 billion VND to pay dividends in 2023 at a rate of 15%, meaning each share will receive 1,500 VND.

Bibica Joint Stock Company (stock code: BBC) has just approved a plan to pay a 2023 cash dividend at a rate of 15%. Shareholders owning each share will receive 1,500 VND. The company said the payment start date is October 10.

With more than 18.7 million listed shares, Bibica is estimated to spend VND28.1 billion on this payment. PAN Group, the only major shareholder holding more than 18.4 million BBC shares (equivalent to 98.3% of charter capital), will receive VND27.6 billion.

On the stock exchange, BBC shares are currently at VND50,200. Compared to the highest price since the beginning of the year recorded on March 14 (VND54,900), this stock has decreased by 8.5%. Bibica's market capitalization is currently over VND941 billion.

Regarding business performance, the Company achieved net revenue of approximately VND 260 billion in the second quarter of 2024, an increase of 23.7% over the same period. Gross profit was approximately VND 73.6 billion, an increase of 72.4% over the same period last year. Profit margin was over 28.3%, an increase of 8 percentage points over the same period.

After deducting expenses, the Company reported pre-tax profit of VND 11.1 billion and after-tax profit of VND 8.6 billion, respectively 8.5 times and 64 times higher than the same period in 2023.

According to the explanation from the board of directors, increased revenue along with the Company's business recovery is the main reason for the profit being many times higher than the same period.

In the first half of the year, Bibica achieved net revenue of VND619 billion, up 38.5% over the same period last year. Gross profit was over VND183 billion, up 66.4% over the same period. Gross profit margin reached 29.5%.

The company reported pre-tax profit of nearly VND28.6 billion and after-tax profit of VND26 billion, 7 times and 9 times higher than the first half of 2023, respectively.

This year, Bibica plans to achieve net revenue and pre-tax profit of VND1,750 billion and VND110.4 billion, respectively, an increase of VND262 billion and VND4 billion compared to last year. After half a year, the company has completed 35.4% of the revenue plan and 25.9% of the profit target.

At the annual general meeting of shareholders held in April, Bibica said it would continue to be loyal to its long-term growth target of over 15% per year. The company also focused on research and development of new products, marketing, and sales on six key brands including Hura, Goody, Gooka, Zoo, Migita, and Sumika. In addition, the company plans to pay cash dividends this year of 10-20% of charter capital.

As of the end of June, the Company had total assets of VND1,980 billion, down VND348 billion compared to the beginning of the period. Liabilities were over VND551 billion, most of which were short-term debts of over VND537 billion. Equity increased slightly to VND1,429 billion, and undistributed profit after tax was over VND257 billion.

Source: https://baodautu.vn/bibica-tra-co-tuc-tien-mat-15-d223498.html