Sabeco expected to earn more than US$176 mln from cash dividend

December, 07/2021 - 14:03

Holding nearly 7.4 million shares of WSB, Sabeco is expected to receive dividends worth more than VNĐ11 billion (US$176.2 million) in the first phase of 2021 from Saigon Beer Western.

No Title

HÀ NỘI — Holding nearly 7.4 million shares of WSB, Sabeco is expected to receive dividends of more than VNĐ11 billion (US$176.2 million) in the first phase of 2021 from Saigon Beer Western JSC (WSB).

Saigon Beer Western will close the list of shareholders to receive cash dividend in the first installment of 2021 at a rate of 15 per cent on December 14.

With 14.5 million outstanding shares, the company is expected to spend approximately VNĐ21.8 billion to pay the advance dividend. The payment period is expected to take place on December 30.

As of the end of September, Sabeco owns 51 per cent of Saigon Beer Western's equity, equivalent to nearly 7.4 million shares. Therefore, Sabeco will receive approximately VNĐ11.1 billion in cash dividend.

Previously, at the end of May, Saigon Beer Western paid a cash dividend for the last period of 2020 at a rate of VNĐ2,000 a share. Sabeco was estimated to earn nearly VNĐ14.8 billion from the payment.

In the third quarter of 2021, Saigon Beer Western recorded net revenue of VNĐ105.6 billion, nearly VNĐ87 billion lower than the same period last year. Its gross profit was only VNĐ2 billion during the period, while in the third quarter last year, the amount was more than VNĐ25.7 billion.

As of the end of September 2021, the total assets of Saigon Beer Western increased slightly to VNĐ861 billion, while its liabilities climbed by more than 9 per cent to VNĐ179.7 billion and undistributed profit after tax reached VNĐ317.2 billion.

This year, the company set a target of total revenue of VNĐ994.5 billion and net profit of VNĐ118.4 billion, with the dividend rate of 2021 being 30 per cent. — VNS 

Sabeco

E-paper