Supe Lam Thao (LAS) plans to pay 113 billion VND in dividends in 2023, at a rate of 10%

Supe Lam Thao (LAS) plans to pay 113 billion VND in dividends in 2023, at a rate of 10%

With a payout ratio of 10%, equivalent to 1,000 VND per share, the company will need to spend nearly 113 billion VND for this dividend payment.

Lam Thao Super Phosphate and Chemicals JSC (code LAS - HNX floor) has just announced the closing date for receiving 2023 dividends on September 5, 2024. The ex-dividend date is September 4, 2024. Dividends are expected to be paid on September 25, 2024.

With a payout ratio of 10%, equivalent to VND1,000 per share, the company will need to spend nearly VND113 billion for this dividend payment. Previously, the profit distribution plan was approved at the annual general meeting of shareholders with a total dividend payment for 2023 of 10%. Supe Lam Thao said that it will use the source from undistributed after-tax profit as of December 31, 2023 according to the 2023 audited financial report.

As of June 30, 2024, Vietnam Chemical Group is the parent company directly owning 69.82% of capital. This dividend payment helps Vinachem earn nearly 79 billion VND.

The company reported its highest profit in 8 years in the second quarter, reaching its profit target early, despite a sharp 30% drop in revenue compared to the same period last year. The main reason was a strong recovery in gross profit margin. The first half of the year's business results also reached the profit target for the whole year.

Specifically, in the second quarter, Supe Lam Thao recorded a 30% decrease in revenue compared to the same period, to 605 billion VND. However, thanks to a sharp decrease in cost of goods sold of 42%, to 430 billion VND, the company earned 175 billion VND in gross profit, an increase of 39% compared to the same period in 2023. Gross profit margin in the second quarter improved to 28.86%, double the figure of 14.5% in the same period. This is Supe Lam Thao's second highest gross profit margin since 2015, second only to the fourth quarter of 2023.

Mr. Pham Thanh Tung, General Director of Lam Thao Super Phosphate and Chemical Company, said that product consumption slowed down this quarter due to a 70% decrease in consumption compared to the same period last year. The reason is that the fertilizer market has many fluctuations, so distributors are cautious in stockpiling goods. Meanwhile, the management board predicted the price of raw materials and purchased batches of raw materials at reasonable prices such as sulfur, potassium, etc., helping to reduce the ratio of cost of goods sold to sales revenue. Gross profit increased sharply as a result.

By the end of the second quarter, Supe Lam Thao's total assets reached more than VND 2,333 billion. Cash and term deposits increased by more than VND 100 billion to nearly VND 840 billion. Meanwhile, the proportion of inventories in the asset structure by the end of the second quarter reached 37%, double that of the end of the first quarter but still lower than the beginning of the year (44%), mainly due to a decrease in the amount of raw materials, materials and finished products. The company continued to make a provision for inventory price reduction of nearly VND 26 billion. This provision has been set up since the fourth quarter of 2023.

The company's capital mainly comes from shareholders' equity (VND 1,128 billion) and undistributed profit after tax. Liabilities account for about 40% of total capital. Of which, credit channel debt is VND 263.5 billion, equivalent to 11.4% of the company's capital.

Source: https://baodautu.vn/supe-lam-thao-las-du-chi-113-ty-dong-co-tuc-nam-2023-ty-le-10-d222937.html