SBM has announced a dividend payout ratio of 10%, equivalent to VND 1,000 per share. With over 45 million shares outstanding, the company will need to allocate approximately VND 45 billion for this interim dividend. The expected payment date is October 25, 2024.
Earlier in the first and second quarters of 2024, SBM distributed more than VND 90 billion in dividends for the fiscal year 2023 (equivalent to a 20% payout ratio). The company has a history of consistent dividend payments, ranging from 20-33% in ratios and always in cash.
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SBM has a track record of steady dividend payments
Source: VietstockFinance
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At the 2024 Annual General Meeting of Shareholders, the resolution was passed to entrust the Board of Directors with the task of managing cash flow and distributing interim dividends to shareholders based on the actual business performance, with a maximum ratio not exceeding 20%. If this ratio is maintained, SBM has already achieved half of its 2024 dividend payout plan.
Given the company’s financial performance, fulfilling the dividend plan seems feasible. In the first half of 2024, SBM recorded over VND 110 billion in revenue, a significant increase of 32% from the previous year; and posted after-tax profits of nearly VND 57 billion, an impressive surge of almost 81%. Attributing this success to their five hydropower projects, SBM reported that rainfall levels in the first half of 2024 were considerably higher than the same period last year, resulting in a 14.3 million kWh increase in electricity production and subsequently, higher revenue.
| SBM’s Business Performance |
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