Sara Vietnam is about to pay a share dividend of 40%
admin 19-08-2020, 23:36

Sara Vietnam is about to pay a share dividend of 40%

Dividends for 2019 as planned by Sara Vietnam are 40% in stock and 20% in cash. The company plans to triple the capital increase to 612 billion.

Sara Vietnam Company (HNX: SRA) announced the resolution of the Board of Directors to approve the issuance of 7.2 million shares to pay dividends in 2019, equivalent to a division of 40%.

The expected implementation time is in the third quarter, after the State Securities Commission announced the receipt of full documents and reports on the issue of shares to pay dividends in fiscal year 2019.

According to the plan approved at the AGM meeting in June, Sara Vietnam plans to pay 40% stock dividend and 20% cash dividend.

Besides, the company plans to issue 36 million shares to increase its capital to 612 billion through offering to existing shareholders (18 million shares) and private placement to 6 individuals (18 million shares).

The company plans to issue shares to existing shareholders and individual investors at the price of 10,000 dong / share, with the total amount of 360 billion dong expected. The purpose of using the raised capital is to invest in a project to build a concentrated medical waste treatment area in Quang Ninh and Thai Nguyen provinces, to supplement working capital.

As of August 30, the enterprise had 195 billion dong of undistributed profit after tax, 2.9 billion dong of investment and development fund and 180 billion dong of equity.

In the first half of the year, the medical equipment business achieved 156 billion VND in revenue, equivalent to the same period last year. COGS increased by 10%, pushing gross profit down 36.2% to 27.9 billion. Net profit dropped 58% to 17 billion dong.

With this result, the company achieved 41.6% of the revenue target and 14.7% of the profit after tax target.