The ex-rights date for both events is March 14, 2024. Subsequently, the 2024 annual Shareholders’ Meeting of LAF Corporation will be held on April 17, at the company’s headquarters in Long An province. The meeting is expected to approve various important contents, including the report on the production and business results of 2023 and the production and business plan for 2024, the report on the assessment of the activities and financial situation in 2023 by the Audit Committee, and other contents within the voting authority at the meeting.
Lafooco Headquarters in Long An province – the venue for the 2024 annual Shareholders’ Meeting
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Prior to the meeting, specifically on April 12, the shareholders will receive dividends for 2023 in cash at a rate of 15% (1 share will receive 1,500 VND). As for LAF Corporation, with nearly 14.8 million outstanding shares, the company needs to spend over 22 billion VND to pay dividends, thereby completing the profit distribution plan approved by the 2023 annual Shareholders’ Meeting.
LAF Corporation is known as a member in the ecosystem of Pan Group Joint Stock Company (HOSE: PAN). According to LAF’s Q4 2023 financial statements, as of December 31, 2023, PAN is the parent company of LAF, holding nearly 11.9 million shares, equivalent to 80.52%. With this share ratio, PAN is estimated to receive nearly 17.8 billion VND in the upcoming payment round.
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Pan Group’s ecosystem
Source: PAN’s 2022 annual report
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In terms of business performance, in 2023, LAF recorded net revenue of 431.5 billion VND, a decrease of 15% compared to the previous year. However, more efficient financial activities helped the company’s net profit increase by 11%, reaching 28.6 billion VND, exceeding the annual plan by 2%.
