“REE Announces Dividend Payout Date, Chairwoman Nguyen Thi Mai Thanh Seeks to Purchase 2.5 Million Shares”

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Ms. Nguyen Thi Mai Thanh, Chairwoman of the Board of Management of Refrigeration Electrical Engineering Corporation (REE) registered to buy 2.5 million REE shares. The transaction is expected to take place from May 10 to June 7.

If the transaction is successful, Ms. Thanh will increase her ownership from 49.9 million shares (12.2%) to 52.4 million shares (12.8% of charter capital).

From January 2 to May 7, 2024, REE shares increased by 14.86%, from VND 56,590 to VND 65,000 per share.

Ms. Nguyen Thi Mai Thanh, Chairwoman of REE

According to the 2023 governance report, Ms. Nguyen Thi Mai Thanh’s husband, Mr. Nguyen Ngoc Hai, owns over 22.3 million shares (5.46%), and her son, Mr. Nguyen Ngoc Thai Binh, who is also a member of the Board of Management and Vice President of REE, owns over 8 million shares (1.96%).

Recently, REE announced that it will finalize the list of shareholders to pay 2023 dividends in shares on May 22.

Accordingly, the Company plans to issue over 61.3 million shares as dividends at a ratio of 100:15, meaning that for every 100 shares held, shareholders will receive 15 new shares. Any remaining fractional shares will be canceled.

Source: REE

Previously, on April 26, Refrigeration Electrical Engineering Corporation paid a 2023 cash dividend at a rate of 10%, with the record date of April 15.

Thus, the total dividend ratio for 2023 of REE is 25%, which is also the plan approved at the recent 2024 Annual General Meeting of Shareholders.

In terms of business results, in the first quarter of 2024, Refrigeration Electrical Engineering Corporation recorded revenue of VND 1,837.5 billion, down 22% over the same period, and after-tax profit of VND 549 billion, down 48% over the same period.

The sharp decline in first-quarter 2024 profit was mainly due to the increase in cost of goods sold, leading to a plunge in gross profit, along with a significant decrease in profit from joint ventures and associates compared to the previous year.

In 2024, Refrigeration Electrical Engineering Corporation sets a business plan with revenue of VND 10,588 billion, up 23% over the same period, and after-tax profit of VND 2,409 billion, up 10% over the same period. The company also plans to pay an interim dividend for 2024 with a maximum ratio of 15%.

After the first three months of the year, Refrigeration Electrical Engineering Corporation has completed 22.8% of its 2024 business plan.

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