VCF hit the ceiling price on August 27, to VND249,500/share, after the company announced it would pay a 2023 cash dividend at a rate of 250%.
Shares of VinaCafé Bien Hoa Joint Stock Company (stock code: VCF) jumped sharply as soon as the trading session opened on August 27, up to VND246,000/share.
The strong demand pushed the price up continuously, hitting the ceiling in the middle of the morning session and lasting until the close, reaching 249,500 VND, the highest price in more than a year (since March 2023). The stock with the highest market price on the stock exchange closed the session with no sellers.
This is the second consecutive ceiling price increase of VCF after VinaCafé Bien Hoa announced to pay dividends in 2023 at a rate of 250% of charter capital. Thanks to that, this stock became the pillar of the market in today's session when it appeared in the list of stocks with the most positive impact on VN-Index.
VCF's liquidity also exploded, reaching more than VND 2.5 billion, 4.5 times higher than the previous session and the highest level in more than 4 years (from June 2020 to present). That value came from 10,200 shares successfully matched, more than 4 times higher than the first session of the week. VCF's market capitalization reached more than VND 6,631 billion after this increase.
Previously, VinaCafé Bien Hoa announced that it would spend about VND665 billion to pay cash dividends in 2023 at a rate of 250%, equivalent to shareholders owning VND25,000 per share. The company said the last registration date is September 9 and payment is on September 20.
Masan Beverage Company Limited , the sole major shareholder holding nearly 26.3 million VCF shares (equivalent to 98.79% of charter capital) will receive more than VND642 billion.
Since 2011, this company has regularly paid cash dividends to shareholders, the highest rate being 660% in 2017.
According to the audited financial report, VinaCafé Bien Hoa achieved net revenue of VND1,062 billion in the first half of the year, up 6.8% year-on-year. Gross profit was over VND198 billion, down 11.8% year-on-year. Profitability ratio was 18.6%, down 4 percentage points year-on-year.
After deducting expenses, the company reported pre-tax profit of VND234 billion, up 4%, and after-tax profit of VND186 billion, down 4% year-on-year.
This year, the company plans to achieve low net revenue and after-tax profit of VND2,500 billion and VND470 billion, respectively, up VND147 billion and VND20 billion compared to last year. In a more optimistic plan, the company expects net revenue to reach VND2,800 billion and after-tax profit to reach VND500 billion.
After half a year, the company completed 42.5% of the revenue plan and 39.6% of the initial profit target.
The company believes that the world and domestic economy this year will face many difficulties, in addition to the unusually high price of Robusta coffee beans. Therefore, the board of directors has carefully considered the factors to set this year's business goals.
Vinacafé Bien Hoa’s management board said that product innovation to meet consumer demand , especially in line with the trends and movements of young people, is still the company’s main growth driver. This year, the company will also step up its strategy to penetrate the world and Asian markets, especially China and Korea.
In addition, Vinacafé Bien Hoa said it will seek strategic partners to maximize the production capacity of its instant coffee factory to optimize production costs and increase value for the company. The company will also move its packaging lines from the Bien Hoa factory to the Long Thanh factory in accordance with the Bien Hoa 1 Industrial Park relocation policy.
As of the end of June, the company had total assets of VND2,828 billion, a slight decrease compared to the beginning of the period. Liabilities were over VND528 billion, most of which were short-term debts of over VND524 billion. Owners' equity was VND2,299 billion, and undistributed profit after tax was over VND1,790 billion.
Source: https://baodautu.vn/co-phieu-vcf-tang-tran-lien-tuc-khi-sap-chia-co-tuc-250-d223418.html
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