Son La Sugarcane: The schedule for paying "huge" 200% dividend is moved to November
The list of shareholders to pay cash dividends for 2023-2024 will be finalized by Son La Sugar on October 10.
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| Son La Sugarcane pays 200% dividend for the fiscal year from July 1, 2023 to June 30, 2024 |
Son La Sugarcane Joint Stock Company (code SLS, HNX) announced that October 10, 2024 will be the last registration date to close the shareholder list to pay cash dividends for the year 2023-2024 at a rate of 200%/share (1 share receives 20,000 VND). Thus, the ex-dividend date is October 9, 2024 and dividends will be paid to shareholders on November 4, 2024.
With 9.8 million shares in circulation, Son La Sugar is expected to spend about 196 billion VND to pay dividends to shareholders this time.
Previously, the company also announced Resolution No. 29 of the Board of Directors, announcing the last registration date for paying cash dividends for the year 2023-2024 at a rate of 200%/share as September 25, 2024. The payment date according to this Resolution is October 16, 2024. Compared to the original announcement, the time for shareholders to receive dividends is delayed by more than 2 weeks.
At the Annual General Meeting of Shareholders in early September 2024, the company's shareholders approved the adjustment of the 2023-2024 dividend payout ratio from 100% to 200% in cash. This is the company's highest level in its history.
Son La Sugarcane is a company with a history of paying high dividends regularly. Most recently, the company paid a cash dividend to shareholders for the 2022-2023 fiscal year at a rate of 150%, and for the 2021-2022 fiscal year at a rate of 100%.
The record dividend was approved after the company announced positive business results. Specifically, at the end of the 2023-2024 fiscal year (June 30, 2023 - June 30, 2024), the company recorded net revenue of VND 1,412 billion. Profit after tax reached more than VND 526.3 billion, up less than 1% over the same period but continuing to set a new record. Compared to the net revenue plan of VND 1,045.5 billion and profit of VND 136.9 billion, the company exceeded the set targets by 35% and 284.2%, respectively.
It is known that the company set a business plan for the 2024-2025 fiscal year with a target of net revenue of VND 1,097 billion and after-tax profit of VND 150 billion, down 22% and 72% respectively compared to the previous fiscal year.
At the end of the 2023-2024 fiscal year, the company had total assets of about VND 1,696 billion, an increase of VND 345 billion compared to the beginning of the period. Liabilities decreased from VND 161 billion to VND 141 billion, of which all were short-term debts. Owners' equity increased by 31.6% compared to the beginning of the year, to VND 1,555 billion. Undistributed profit after tax reached VND 1,398 billion.
On the stock market, SLS shares are trading at VND205,200/share, up more than 40% compared to the end of last year.
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