Sabeco (SAB) expected to earn more than US$176 mln from cash dividend

Dec 8th at 08:29

08-12-2021 08:29:07+07:00

Holding nearly 7.4 million shares of WSB, Sabeco is expected to receive dividends of more than VND11 billion (US$176.2 million) in the first phase of 2021 from Saigon Beer Western JSC (WSB).

Saigon Beer Western will close the list of shareholders to receive cash dividend in the first installment of 2021 at a rate of 15 per cent on December 14.

With 14.5 million outstanding shares, the company is expected to spend approximately VND21.8 billion to pay the advance dividend. The payment period is expected to take place on December 30.

As of the end of September, Sabeco owns 51 per cent of Saigon Beer Western's equity, equivalent to nearly 7.4 million shares. Therefore, Sabeco will receive approximately VND11.1 billion in cash dividend.

Previously, at the end of May, Saigon Beer Western paid a cash dividend for the last period of 2020 at a rate of VND2,000 a share. Sabeco was estimated to earn nearly VND14.8 billion from the payment.

In the third quarter of 2021, Saigon Beer Western recorded net revenue of VND105.6 billion, nearly VND87 billion lower than the same period last year. Its gross profit was only VND2 billion during the period, while in the third quarter last year, the amount was more than VND25.7 billion.

As of the end of September 2021, the total assets of Saigon Beer Western increased slightly to VND861 billion, while its liabilities climbed by more than 9 per cent to VND179.7 billion and undistributed profit after tax reached VND317.2 billion.

This year, the company set a target of total revenue of VND994.5 billion and net profit of VND118.4 billion, with the dividend rate of 2021 being 30 per cent.

bizhub