Mobile World (MWG) changes dividend payment plan
Mobile World (MWG) changes dividend payment plan
Electronics giant Mobile World has cut its planned cash dividend ratio for last year from 10 percent to 5 percent, seeking to pump up cash by VND237 billion ($10.38 million).
Mobile World staff seen at a shop. Photo courtesy of Mobile World.
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The company announced the decision one month after revealing its plan to pay dividends by cash. A 5 percent cash dividend equals VND500 per share ($0.022).
It also moved the payment period from sometime in August to September 13.
The company will also give one new share to each shareholder of two from its undistributed profits.
Mobile World posted a year-on-year revenue rise of 12 percent to nearly VND62.5 trillion in the first six months.
Post-tax profit surged 26 percent to VND2.55 trillion.
But it admitted sales in July and August were hurt by social distancing imposed in Hanoi and southern localities.
Nearly 2,000 Mobile World and Dien May Xanh outlets were closed or opened with limited capacity by the end of July, it stated.
Its grocery chain Bach Hoa Xanh, however, saw revenue surging 42 percent to VND13.36 trillion.
In July alone, the chain served on average 800,000 to one million customers a day.
The company, however, did report staff shortages and changes to sourcing goods, inconveniencing many customers.
