SASCO, the Tan Son Nhat Airport Aviation Service Joint Stock Company, has recently announced that it will finalize the list of shareholders on September 17 to implement the first 2024 cash dividend with a ratio of 6% (1 share will receive VND 600). The dividend payment will be made from September 27.
With nearly 133.5 million circulating shares, SASCO is estimated to spend around VND 80 billion on dividends.
Notably, this interim dividend is in line with the plan approved at the 2024 Annual General Meeting of Shareholders. In the past, SASCO has often divided dividends into two phases. For the 2023 dividend, the company also distributed a ratio of 8% in October 2022 and 10.26% in July 2023.
Regarding the business situation in the second quarter of 2024, SASCO, known for its leadership under Mr. Johnathan Hanh Nguyen, recorded a revenue of VND 654 billion, an increase of 8% compared to the same period last year. However, the company’s after-tax profit declined by nearly 9%, reaching VND 68 billion.
For the first half of 2024, the after-tax profit was nearly VND 114 billion, a slight increase of 3% over the same period. This result was largely due to the vibrant business performance in the first quarter and the overall recovery of the aviation market.
In 2024, SASCO aims for a revenue of nearly VND 2,800 billion and a pre-tax profit of VND 343 billion, an increase of 8% and 3% respectively over the same period. After the first half, the company has achieved 48% of the revenue plan and 41% of the profit plan.
SASCO maintains a strong financial position. As of June 30, the company held nearly VND 1,400 billion in short-term assets, including nearly VND 830 billion in cash and bank deposits. On the capital side, payables stood at over VND 750 billion, notably with no debt. Accumulated undistributed post-tax profit as of the end of the second quarter reached nearly VND 122 billion.
In the market, SAS shares have been on a downward trend after peaking at VND 45,800 per share in late June. Currently, SAS shares are trading around VND 30,000 per share, down 34% from the peak, but still up 21% since the beginning of the year.
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