After two dividend payments, the top "giant" in the stationery industry has paid cash dividends to shareholders at a total rate of 25%. The remaining 2023 dividend will be paid in shares at a rate of 10%.
Thien Long Group Joint Stock Company (code TLG - HoSE) announced the Resolution of the Board of Directors on the payment of the second dividend in 2023 in cash. Accordingly, the company will pay cash dividends at a rate of 10% (VND 1,000/share). The last registration date to close the shareholder list is August 30, 2024, so the ex-dividend date is August 29. Dividends will be paid to shareholders on September 13, 2024.
Previously, Thien Long had paid the first cash dividend in June 2023, at a rate of 15%. After two payments, the shareholders of this ballpoint pen company paid cash dividends at a total rate of 25%. According to the profit distribution plan approved at the 2024 annual general meeting of shareholders, in addition to the cash dividend (25%), Thien Long will also pay an additional stock dividend at a rate of 10% for 2023.
With nearly 78.6 million shares in circulation, Thien Long will spend about VND79 billion on this dividend payment. Thien Long An Thinh Investment Company is currently the largest shareholder of Thien Long, holding more than 37.35 million shares (47.52%) and this unit will collect more than VND37 billion in dividends. Right before this dividend payment, shareholder NWL Cayman Holdings Ltd sold 2 million TLG shares. After the transaction, NWL Cayman Holdings Ltd reduced its ownership ratio in Thien Long from 7% to 4.46% of charter capital, equivalent to 3.5 million shares and is no longer a major shareholder of Thien Long.
According to the financial report for the second quarter of 2024, net revenue reached VND 1,207 billion, up 13% over the same period. Profit after tax of the parent company's shareholders reached VND 242.3 billion, up 43.2% over the same period. In the first half of 2024, the company recorded net revenue of VND 2,015.8 billion, up 1.4% over the same period. Profit after tax of the parent company's shareholders reached VND 330.6 billion, up 22.5% over the first half of 2023.
According to General Director Tran Phuong Nga, in the second quarter of 2024, domestic market purchasing power showed signs of recovery. However, overall sales in the first half of the year have not improved. The bright spot in this period came from export revenue growth, helping total revenue increase slightly. "Gross profit improved significantly, operating costs decreased thanks to the company's effective cost management, and the increase in financial income from fluctuations in the dollar contributed to an increase in after-tax profit compared to the same period," said Ms. Nga.
As of June 30, 2024, total assets reached VND 3,272 billion, up 16.5% compared to the beginning of the year. The amount of money increased by one and a half times to VND 344.6 billion. Short-term deposits increased from VND 447.3 billion to VND 603.8 billion. Notably, short-term receivables from customers doubled compared to the beginning of the year and reached VND 731 billion.
On the stock market, TLG stock price closed on August 16 at VND52,900/share, an increase of only about 7% compared to the beginning of the year.
Source: https://baodautu.vn/hang-but-bi-thien-long-chia-co-tuc-dot-2-nam-2023-ty-le-10-d222812.html
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