Sabeco plans raising charter capital to $534 million through bonus shares
Your browser does not support the audio element. Deadline for shareholders to register is September 一 五, while the ex-dividend date is September 一 四. A beer production line of Sabeco. — Photo courtesy of the company
HÀ NỘI — Saigon Beer-Alcohol-Beverage Corporation, also called Sabeco, has approved a plan to issue more than 六 四 一 million bonus shares to raise its charter capital.
The shares will be given to existing shareholders at the rate of 一: 一, meaning that a shareholder owning 一 share will receive 一 additional issued share. The issuance source is taken from surplus equity and retained earnings as of December 三 一, 二0 二 二, according to the audited single financial statements for 二0 二 二.
The deadline for shareholders to register is September 一 五, while the ex-dividend date is September 一 四.
After the issuance is completed, Sabeco's charter capital is expected to increase from more than VNĐ 六. 四 trillion (US$ 二 六 七. 二 million) to nearly VNĐ 一 二. 八 三 trillion.
Vietnam Beverage Co., Ltd., Sabeco's largest shareholder with an ownership of 五 三. 五 九 per cent of the capital, is expected to receive an additional 三 四 三. 六 million shares, while the Ministry of Industry and Trade, which holds 三 六 per cent of capital, will receive nearly 二 三 一 million units.
With a record profit after tax of VNĐ 五. 五 trillion in 二0 二 二, the company's 二0 二 三 Annual General Meeting of Shareholders approved an increase of 一 五 per cent in cash dividend to 五0 per cent, meaning a shareholder will receive VNĐ 五,000 a share.
The Vietnamese leading brewer also decided to reward shareholders with shares at the rate of 一: 一.
This is the company's highest dividend level after it was acquired by a Thai enterprise in 二0 一 七.
In the first six months of the year, Sabeco posted a net revenue of VNĐ 一 四. 五 trillion and net profit of over VNĐ 二. 一 trillion, down 一0. 九 per cent and 二 七 per cent, respectively, compared to last year.
According to Viet Capital Securities (VCSC), Sabeco's business result is expected to recover in the second half of 二0 二 三 and in 二0 二 四 thanks to the improvement of consumer confidence, reduced VAT (VAT), and rising tourism activities.
However, in a more cautious report in June, Vietcombank Securities Company (VBSC) said that in the short term, the beer industry's outlook is expected to slow down in 二0 二 三 as consumers tighten their spending.
Sabeco's executive board forecasts that the company's gross profit margin will remain stable this year despite the impact of high input costs. The company also expects input costs to reduce in 二0 二 四 while profit margins will be supported by other cost optimisation measures.
In 二0 二 三, Sabeco set targets of VNĐ 一 四. 五 trillion in revenue and over VNĐ 二. 二 trillion in profit after tax.
On the stock market, Sabeco's shares are traded on the Hồ Chí Minh Stock Exchange (HoSE) with a ticker symbol SAB. SAB closed Thursday at VNĐ 一 五 三, 五00 a share, a gain of 二. 二 七 per cent.
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