The shareholder list will be finalized on October 8, corresponding to the ex-dividend date of October 7. Cash dividends will be paid to shareholders one month later, on November 8, 2024.
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| Tan Bien Rubber plans to spend 193.6 billion VND to pay dividends to shareholders. |
Tan Bien Rubber Joint Stock Company (code RTB - UPCoM) announced that October 8, 2024 will be the last registration date to make a list of shareholders to pay cash dividends in 2023 at a rate of 22%/share (1 share receives 2,200 VND). Thus, the ex-dividend date will be October 7, 2024. Cash dividends will be paid to shareholders on November 8, 2024.
With nearly 88 million shares in circulation, Tan Bien Rubber will spend 193.6 billion VND to pay dividends to shareholders this time. Currently, Vietnam Rubber Industry Group (code GVR - HoSE) is the parent company and also the largest shareholder of Tan Bien Rubber, holding nearly 86.6 million shares (98.46% of charter capital). Vietnam Rubber Industry Group will receive more than 190 billion VND in dividends from Tan Bien Rubber.
On the stock market, RTB shares have low liquidity, partly because the majority of outstanding shares are owned by the parent company , Vietnam Rubber Industry Group . Currently, RTB shares are trading at around VND26,400/share, up 50% compared to the end of last year. Market capitalization is approximately VND2,312 billion.
In the first half of 2024, Tan Bien Rubber achieved VND492.55 billion in revenue, up 25% over the same period last year. Gross profit was VND164 billion, up 7.9% over the same period. Financial revenue in the period decreased by 7.7% to VND15 billion, while financial expenses decreased by 15% to VND20 billion. This period, the company lost VND2.8 billion in its joint venture, while in the same period, this loss was only VND385 million. Selling expenses and administrative expenses increased by 32% and 4%, respectively.
Pre-tax and after-tax profits reached nearly VND261.4 billion and VND213.8 billion, respectively, up 45.9% and 50% over the same period. The company has completed 76% of its revenue target and exceeded 14.15% of its profit target for the whole year of 2024 after 6 months.
As of June 30, 2024, total assets reached VND 2,972 billion, an increase of 8.7% compared to the beginning of the year. Of which, short-term assets increased by 42% compared to the beginning of the year and accounted for only 27% of total assets. Long-term assets were at VND 2,178 billion equivalent to the beginning of the year, mainly fixed assets with VND 1,960 billion.
At the 2024 Annual General Meeting of Shareholders, the Company's Board of Directors forecasted that 2024 would be a year of continued difficulties and challenges both domestically and internationally. In addition, the Company's orchard output would continue to decrease due to the liquidation of old orchards for replanting at the end of the exploitation cycle. Adverse changes in weather, unpredictable rubber market prices, etc. will significantly affect the implementation of production and business tasks.
To complete the targets, the company's leaders said they will continue to implement measures to improve labor productivity, reduce production costs, ensure profits per ton of products and pay dividends to shareholders. The company will focus on restructuring, strengthening management, inspection and control of investments in subsidiaries (2 projects in Cambodia) and joint ventures to perform well and ensure profitable business.
Source: https://baodautu.vn/cao-su-tan-bien-chot-quyen-tra-co-tuc-bang-tien-ty-le-22-d224770.html
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