Tuesday, May 26 2020

VietNamNews

Sugar firm to pay US$22.7 million cash bonus on May 8

Update: April, 11/2020 - 08:58

 

Soybean milk production at Quảng Ngãi Sugar JSC. - Photo kinhtechungkhoan.vn

HÀ NỘI – Quảng Ngãi Sugar JSC (QNS) has announced it pay the remaining 2019 cash dividend at a 15 per cent rate on May 8.

Shareholders will receive VNĐ1,500 (US$0.064) per share. The company will finalise the list of beneficial shareholders on April 17.

The company is trading nearly 357 million shares on the Unlisted Public Company Market (UPCoM) with code QNS.

The total value of the upcoming dividend package is estimated at VNĐ535.4 billion ($22.7 million).

The company's shares rose 1.6 per cent to end Thursday at VNĐ24,900 apiece. Shares have bounced back by 24.4 per cent from their record low of VNĐ20,000 on March 23.

QNS made two dividend batches on September 16, 2019 (5 per cent rate) and February 20, 2020 (10 per cent rate) as decided at its annual shareholders’ meeting on March 30 last year.

The upcoming dividend package is an extra payment for shareholders as QNS beat its profit forecast in 2019.

According to the firm’s 2019 financial report, total net revenue slid 4.4 per cent year-on-year to VNĐ7.68 trillion. However, a strong gain of financial income helped post-tax profit increase 4.2 per cent year-on-year to VNĐ1.29 trillion, which dwarfed the full-year target by more than six times.

QNS is among few companies offering a cash bonus for their 2019 performances despite the urgent need to hold cash amid the spread of the coronavirus and its impact on purchasing power.

In 2020, QNS targets a total revenue of VNĐ8.4 trillion and a post-tax profit of VNĐ913 billion. – VNS

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