SIP sets a profit target of 240 billion dong, a 63% decrease from its implementation but an increase of 20% compared to the plan for 2019. The company dividends 19% for 2019 and recommends a minimum of 20% for 2020. The company will increase its charter capital through bonus shares to existing shareholders and bonuses for employees in 2020-2021.
Saigon VRG Investment Joint Stock Company (UPCoM: SIP) has just released a document of the Annual General Meeting of Shareholders in 2020. According to that, the company sets a revenue target of 3,370 billion dong, down by 22% compared to 2019 but still increasing by 12% compared to 2019. 2019 plan.
Profit after tax target is VND 240 billion, down 63% compared to the implementation in 2019 but still increasing 20% compared to the plan in 2019. Dividend target of at least 20% in cash.
Last year, SIP recorded strong revenue and profits thanks to attracting more investors with a total investment of US $ 346 million. The company achieved a record profit of more than 645 billion dong, up 160%.
With that result, the Board of Directors submitted a 19% cash dividend plan for 2019, totaling more than VND 131 billion. In which the company has advanced 10% cash and expected to pay the remaining 9% in the third quarter.
The company also added the content of increasing charter capital with a total volume of nearly 17.3 million shares, thereby increasing capital to VND 863 billion. In detail, SIP expects to issue 15% share bonus, equivalent to 10.4 million shares issued. In addition, it also issued bonus shares to key staff with a volume of 3.45 million shares, limiting the transfer of 3 years. The duration for implementation of these two phases is 2020.
After that, the company continued to issue bonus shares to key employees with the volume of 3.45 million other shares in 2021. The purpose is to associate the benefits of employees with the company.
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