Son La Sugarcane (SLS) pays cash dividend at rate of 200%

Son La Sugarcane Joint Stock Company (Code: SLS) has just announced the closing of the list of shareholders to pay 2023 cash dividends at a rate of 200%. Equivalent to each shareholder owning 1 share will receive 20,000 VND in dividends.

There are currently 9.8 million SLS shares in circulation on the market. Thus, it is expected that Son La Sugar will have to spend about 196 billion VND to pay dividends to existing shareholders. The ex-dividend date is September 24, 2024. Dividends will be paid on October 16, 2024.

Son La Sugarcane (SLS) is about to pay cash dividends at a rate of 200%, equivalent to paying 196 billion VND (Photo TL)

In the last 3 years, Son La Sugarcane recorded a gradual increase in dividend payments from 80% in 2021 to 100% in 2022 and 150% in 2023. Thus, the cash dividend payment rate of 200% in 2024 is the highest in recent years.

SLS's high dividend payout is a result of its strong business performance last year. Specifically, in the 2023-2024 fiscal year, the company recorded net revenue of VND1,411 billion, down 15.8% year-on-year. Profit after tax reached more than VND526.3 billion, up 0.6% year-on-year.

Compared to the set target of VND 1,046 billion in revenue and VND 137 billion in profit after tax, the company has exceeded the annual profit target by 284%. At the end of the fourth quarter of the 2023-2024 fiscal year, SLS's total assets reached VND 1,695.7 billion, of which liabilities accounted for only VND 140.9 billion. Owner's equity accounted for VND 1,554.8 billion.

In the market, in the trading session on September 16, 2024, SLS shares are recorded at a price of VND 209,000/share.   Compared to the beginning of the year, SLS has increased in price by 46.5%.

Source: https://www.congluan.vn/mia-duong-son-la-sls-tra-co-tuc-tien-mat-ty-le-200-post312563.html