Record Profits in 2023: PAN to Pay Out Over VND 104 Billion in Dividends

After a record-breaking 2023, Pan Group Joint Stock Company (HOSE: PAN) is set to resume dividend payments after a two-year hiatus. The company has announced a cash dividend of 5% (VND 500 per share), amounting to an expected payout of over VND 104 billion. The ex-dividend date is set for June 26, with a payment date of July 8, 2024.

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PAN has announced an interim dividend with a ratio of 5%, meaning that shareholders owning 1 share will receive VND 500, matching the ratio approved by the 2024 Annual General Meeting of Shareholders. With nearly 209 million shares currently in circulation, PAN is estimated to spend over VND 104 billion on this initiative.

According to the list of major shareholders of PAN as of December 31, 2023, the group of related shareholders, including SSI Securities Corporation (HOSE: SSI) and NDH Investment Company, are the two largest shareholders with ownership ratios of 12.29% and 11.01% of charter capital, respectively. Therefore, unless there are any changes, SSI and NDH Investment will respectively receive nearly VND 13 billion and VND 12 billion in dividends from PAN.

Source: PAN’s 2023 Annual Report

It is worth recalling that on the eve of the 2024 Annual General Meeting of Shareholders, PAN introduced gratitude policies and attracted investors to attend with a gift program for shareholders holding 25,000 PAN shares or more. The gifts included “homegrown” products such as rice, fish sauce, cashews, dried fruit, confectionery, and coffee.

This is the fourth consecutive year that PAN shareholders have received gifts of “homemade” products during the Annual General Meeting of Shareholders since 2021. Despite showing gratitude to shareholders, PAN did not pay dividends in 2021 and 2022, opting instead to allocate resources for capital balance and investment development activities.

Thus, after a 2-year hiatus, PAN has resumed dividend distributions to shareholders, partly supported by the record profit of over VND 406 billion in 2023.

For 2024, PAN sets consolidated net revenue and post-tax profit targets of VND 14,780 billion and VND 882 billion, respectively, up 12% and 8% compared to the previous year. Expected net profit stands at VND 447 billion, a 10% increase. If these plans are realized, they will represent historic highs in the Company’s operating history.

Regarding the profit distribution plan, PAN expects to pay a minimum cash dividend of 5%.

Image: The Manh

Huy Khai

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