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Wednesday, July 24, 2024

Thai firm to receive VND687 billion in dividend from Sabeco

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HCMC – Vietnam Beverage Co Ltd, a local unit of the Thai Beverage Public Company Limited, which owns a 53.59% stake in Saigon Beer, Alcohol and Beverage Corporation (Sabeco), will receive VND687 billion (US$29.4 million) in cash dividends for this year from Sabeco as it has approved the advance payment of dividend for the year 2020 in cash at 20%.

Despite the company’s profit reduction triggered by Covid-19, Sabeco has offered a high dividend payout ratio, the local media reported.

The payment is expected to be made on December 18.

With more than 641 shares being traded, Sabeco will have to spend some VND1.3 trillion on the dividend payment.

The State Capital Investment Corporation, which holds a 36% stake in Sabeco, will receive VND461 billion.

As planned, Sabeco would pay a dividend at 35% for 2020.

Sabeco’s business has recovered since last quarter after being hit by the pandemic. Specifically, its net revenue in the third quarter dropped 17% year-on-year to over VND8 trillion but its pretax profit edged up 1% to VND1.8 trillion.

In the January-September period of 2020, the firm earned more than VND20 trillion in net revenue and VND4.2 trillion in pretax profit, down 29% and 19%, respectively, over the same period a year ago.

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