Masan Consumer to pay high dividends despite struggles
Masan Consumer to pay high dividends despite struggles
Food and beverage company Masan Consumer will pay a high cash dividend rate in June despite a steep decline in business in 2017.
The consumer goods arm of Masan Group decided to pay shareholders cash dividends at 45 per cent, which means each share is worth VND4,500 (20 US cents).
The payment will be made on June 28 and the company will finalise the list of shareholders for the payout on June 18.
In addition, it plans to pay bonus shares to existing shareholders this year at the rate of 15 per cent.
The net revenues of Masan Consumer dropped 11 per cent in 2017, totaling VND13.2 trillion (US$579 million). Its net profit hit a six-year low at nearly VND2.13 trillion, down 20 per cent year-on-year.
Masan Consumer has set a target for net revenues of VND17 trillion to VND18.5 trillion in 2018, a growth of 29 per cent to 40 per cent against last year. Its after-tax profit is also projected to increase between 45 per cent and 59 per cent to VND3.1 trillion to VND3.4 trillion.
The company reported net revenues of VND3.53 trillion and net profits of nearly VND780 billion in the first quarter.
Masan Consumer is trading on the Unlisted Public Company Market (UPCoM) at around VND100,000 ($4.39) per share.
