Gold and paper company pays 100% dividend after record profit year

With a profit of more than 114 billion VND in the 2023 fiscal year, CAP will spend more than 50 billion VND and issue an additional 5 million shares to pay dividends to shareholders.

According to a recent resolution, Yen Bai Forestry and Agricultural Products Joint Stock Company (Yfaco - CAP) will pay dividends in the second quarter. The dividend rate is 100%, divided in half including cash and shares. If a shareholder owns one company share, he/she will receive VND5,000 in cash and 0.5 new shares.

With more than 10 million shares outstanding, Yfaco will spend about VND50 billion and issue more than 5 million shares to pay dividends. Chairman of the Board of Directors Truong Ngoc Bien's family will receive most of the above dividends as they currently hold 28.56% of the capital, according to the 2023 annual report. Five members of Mr. Bien's family can receive nearly VND14.3 billion in cash and own more than 1.4 million CAP shares.

Yen Bai Food pays large dividends after a year of record profits. In fiscal year 2023 (October 2022 - September 2023), the company has a revenue of more than 611 billion VND and a profit after tax of more than 114 billion VND. Although revenue decreased, profit increased by 8% compared to the previous year and exceeded the plan by 62%. This is the second consecutive fiscal year that this enterprise has made a profit of more than 100 billion VND and reached a record level.

Since listing on the Hanoi Stock Exchange (HNX) in 2008, Yfaco has paid regular cash dividends, with a fairly high rate for many years. From 2021 to now, the company has only paid mixed dividends, adding the form of payment in shares. In 2022, this company paid a total of 70% to shareholders, and in 2021 it was 100%.

Yen Bai Forestry and Agricultural Products Foodstuff Joint Stock Company is the only enterprise trading in votive paper currently listed on the stock exchange. Formerly known as Yen Bai Paper Factory, this company specializes in producing and selling cassava starch, base paper and votive paper under the brand name Yfaco.

Although the "backbone" is the cassava starch segment, CAP still earns tens of billions of VND each year from votive paper. The record revenue of this product is more than VND 99 billion in 2022, equivalent to an average of VND 8 billion per month from selling votive paper. However, in 2023, revenue from selling votive paper will be only nearly VND 39 billion, 2.5 times lower than in 2022 and the lowest in the past 10 years.

In the 2024 fiscal year, this enterprise has proposed a business plan to go backwards, with revenue of VND560 billion and a minimum after-tax profit of VND70 billion. Compared to the previous year, these two indicators decreased by 8% and 39% respectively. As a result, the dividend rate also decreased to a minimum of 35%.

Recently, CAP stock price has set a new level. This code has increased for 12 consecutive sessions, currently reaching 97,800 VND per unit, as of this afternoon. This is a record price for Yfaco's stock code.

Siddhartha

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