Rubber firms plan 30-50 per cent dividend in cash

by ,http://vietnamnews.vn/economy/569859/rubber-firms-plan-30-50-per-cent-dividend-in-cash.html14 December 2019 Last updated at 08:26 AM

Phước Hòa Rubber JSC will make the first dividend payout at a 30 per cent rate for 2019, meaning every shareholder will receive VNĐ3,000 (13 US cents) per share.

 

 

Rubber latex harvested at a farm of Phước Hòa Rubber JSC (HoSE: PHR). The company plans to pay the first 2019 dividend at 30 per cent in the first quarter of 2020. — Photo phr.vn

HÀ NỘI — Three companies in the natural rubber industry plan to make 30-50 per cent advance dividend payouts in cash for 2019.

Phước Hòa Rubber JSC (HoSE: PHR), Đồng Phú Rubber JSC (HoSE: DPR) and Bình Long Rubber Industrial Park JSC (UPCoM: MH3) plan to pay dividends in the first quarter of 2020 after the lists of beneficial shareholders are finalised by the end of this month.

At the annual shareholders’ meeting in late March, the company planned the total dividend payout rate for 2019 at 40 per cent. The remainder of 2019 dividend, equal to a 10 per cent payout, will be paid later in 2020.

With nearly 135.5 million shares listed on the Hồ Chí Minh Stock Exchange, the company will spend VNĐ406.5 billion ($17.63 million) on the upcoming payout.

The two other firms – Đồng Phú Rubber JSC and Bình Long Rubber Industrial Park JSC – will make a 2019 dividend payout at 50 per cent, meaning every shareholder will receive VNĐ5,000 per share.

The two companies will pay VNĐ60-300 billion for their dividend payouts.

The firms’ decisions come after they reported positive performances in the first nine months of the year.

Phước Hòa Rubber earned VNĐ1.16 trillion in its nine-month revenue and VNĐ650 billion in nine-month post-tax profit. The figures were up 31 per cent and 64 per cent on-year.

Bình Long Rubber Industrial Park saw total net revenue jump by 23 per cent year on year to VNĐ39 billion in January-September. Post-tax profit in the same period also rose 23 per cent on-year to VNĐ37 billion.

According to the Ministry of Agriculture and Rural Development (MARD), 225,000 tonnes of rubber was exported in November 2019, worth $293 million.

After 11 months, total rubber export volume was estimated at 1.53 million tonnes, worth VNĐ2.06 billion.

The 11-month export figures could be up 9.9 per cent on-year in volume and 9.3 per cent on-year in value.

In global trading, the rubber price on the Tokyo Commodities Exchange gained 0.60 per cent to trade at 202.20 yen ($1.84) per kilo on Friday.

Rubber price has soared a total of 30 per cent since early October.

According to MARD, expectations for a trade truce between the US and China to boost the global economy helped spur the surge.

While global rubber production is forecast to decline by 800,000 tonnes in 2019, Việt Nam’s exports look set to see increases in most major markets such as India (up 34.7 per cent), South Korea (up 28.7 per cent) and Brazil (up 25.5 per cent). — VNS

 

Tags:

Top VND Exchange Rates

Auto-refesh 15m

USD

EUR

AUD
1 VND
Inverse:
0.00004
22,510.0
0.00004
25,226.0
0.00006
15,674.0

Mid-market rates: 2024-03-29 14:29 UTC

WEATHER FORECAST