Making news

Despite the pandemic, shareholders set to rake it in

Despite the difficulties inflicted by the COVID-19 pandemic, several companies plan to pay dividends at surprisingly high rates.

Sabeco Song Tien Trading & Service JSC (SST) recently announced it will pay a 2019 dividend in cash at an astonishing rate of 347.6 percent, meaning every shareholder will receive 34,760 VND (1.5 USD) for each share they have. The payout date is scheduled for September 15.

With 4 million shares outstanding, the company plans to spend about 139 billion VND to pay the dividend. In 2018, it paid cash dividends at a huge rate of 207 percent.

Saigon Beer Western JSC (WSB) has also announced it will pay a 2019 dividend at a relatively high rate of 50 percent instead of the initially planned rate of 40 percent.

Due to the severe impacts of the COVID-19 pandemic and strict new penalties for drink drivers, most brewers have suffered sharp drops in sales consumption.

West Coach Station Joint Stock Company (WCS) also surprised shareholders after announcing a plan to spend 129 billion VND to pay 2019 dividend at a rate of 516 percent. Every shareholder will receive 51,600 VND for each share they have.

WCS leaders said the COVID-19 pandemic had caused a sharp drop in their earnings in the first few months of the year as many transport firms were forced to stop working because of social distancing orders.

As the pandemic is being contained effectively, transportation activities are resuming but demand had not yet come back to normal.

Cuu Long Fish Joint Stock Company (ACL) recently announced it will pay the 2019 dividend in stock at a rate of 135 percent. It reported 1.4 trillion VND in net revenue in 2019, down 16 percent year-on-year. Post-tax profit touched 141.7 billion VND, down 38.5 percent year-on-year.

Clever Group Corporation (ADG) last month announced a plan to issue 3.44 million shares to pay the 2019 dividend at a rate of 41.6 percent. It also plans to issue 6.09 million bonus shares./.