Vinafood 2 (VSF) not to pay 2019 dividends
Viet Nam Southern Food Corporation (Vinafood 2) has set 2019’s revenue at nearly VND21.29 trillion (US$913.73 million), a year-on-year increase of 19 per cent, and does not plan to pay a dividend to compensate for losses in 2018.
The information was revealed in documents for 2019’s annual shareholders’ meeting, which will be held on June 25.
This year, Vinafood 2 plans to invest VND106 billion in basic construction to serve production and business.
In addition, the document also has a proposal to add some business lines, including: real estate, agencies for petrol, oil, lubricant and related products, retail of petroleum, lubricating grease and cooling products for motor vehicles, motorcycles, motorbikes and other motor vehicles, parking management and vehicle management activities.
In 2018, the company suffered losses, so it proposed not to set up funds and pay dividends. It is predicted that the corporation will not pay dividends this year because its after-tax profits will be used partly to cover losses in 2018.