CAN to Pay Cash Dividend of 6 Billion VND on June 5, 2024
With 5 million outstanding shares and a payout ratio of 12% – equivalent to shareholders receiving VND 1,200 for each share, it is estimated that CAN will spend approximately VND 6 billion to complete this payment. The expected implementation date is June 5, 2024.
In the shareholding structure (according to the 2023 annual report), as of December 31, 2023, the Vietnam National Seafood Corporation (UPCoM: SEA) is the largest shareholder of CAN with a 27.75% stake (equivalent to nearly 1.4 million shares). In addition, the Company has 5 other major shareholders, including one organization, Landial Pte. Ltd. (14.65%), and 4 individuals: Pham Huu Quy Lam (8.76%), Low Say Pun (7.69%), Nguyen Van Binh (6.73%) and Le Minh Ha (5.48%).
With the ownership ratio mentioned above, SEA will receive nearly VND 1.7 billion, Landial nearly VND 900 million. The remaining major shareholders will receive VND 525 million, VND 460 million, VND 403 million and VND 330 million, respectively.
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List of CAN’s Major Shareholders
Source: CAN’s 2023 Annual Report
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CAN, the predecessor of Halong Canned Fish Factory, was established in 1957 and specializes in canned products, ham, and sausages, with canned products accounting for the largest proportion of its revenue (63%). The Company owns several well-known brands such as Pate Gan Ha Long, or recently Pate Cot Den Hai Phong.
Regarding business performance, CAN ended the first quarter with revenue of VND 164 billion, down 12% year-on-year; net loss of nearly VND 6 billion (loss of VND 377 million in the same period). The Company said that this loss was due to the Company applying additional promotional policies to stimulate consumer demand, and incurring additional costs due to salary adjustments for employees to align with the market.
| CAN’s Business Performance |
Chau An
