“REE Completes Distribution of Over 70 Million Shares as 2024 Dividend”

Ree Corporation (Ticker: REE, HoSE exchange) has just reported the results of its share issuance to pay dividends for 2024.

As of June 12, REE completed the issuance of nearly 70.64 million shares to pay 2024 dividends to 18,505 shareholders. The remaining 7,271 fractional shares will be canceled.

The entitlement ratio was 100:15, meaning that for every 100 shares owned, shareholders received 15 new shares. The newly issued shares are not restricted from transfer after listing.

The capital source for this issuance was the company’s undistributed post-tax profits. The share transfer is expected to take place in July 2025.

With this issuance, REE has increased its number of outstanding shares from 471.01 million to 541.6 million, equivalent to a charter capital of VND 5,416.5 billion.

Previously, on April 4, 2025, REE paid 2024 dividends to shareholders in cash at a rate of 10%, meaning that for every share held, shareholders received VND 1,000.

With over 471 million REE shares currently trading in the market, the company is estimated to have paid out more than VND 471 billion for this cash dividend payment.

In terms of business results, the consolidated financial statements for Q1 2025 showed that REE achieved net revenue of VND 2,068 billion, up 13% compared to the same period last year. After deducting cost of goods sold, gross profit was VND 950 billion, an increase of 28%.

While the real estate and water infrastructure segments showed growth, the refrigeration segment decreased by 17.7% to VND 454 billion.

During the period, financial revenue increased by 57% to VND 110 billion, while financial expenses decreased by 15% to VND 191 billion. Profit from associates also increased by 16% to VND 140 billion.

As a result, REE reported a post-tax profit of VND 817 billion, up 49% compared to the same period last year.

For 2025, REE set a target of VND 10,248 billion in revenue and VND 2,427 billion in post-tax profit, an increase of over 22% and 21.7%, respectively, compared to 2024. Thus, the company has achieved 33.6% of its profit target in the first three months of the year.

REE’s total assets as of the end of Q1 2025 stood at VND 36,889 billion, slightly higher than the beginning of the year. Cash and cash equivalents were at VND 5,981 billion.

Inventories increased by 8% to VND 1,390 billion. Construction in progress remained unchanged at VND 1,470 billion.

In terms of capital structure, total liabilities decreased slightly to VND 13,662 billion, mostly comprised of long-term debt. Short-term bank loans amounted to VND 1,265 billion, long-term bonds were VND 2,304 billion, and long-term borrowings were VND 6,689 billion.

In the first quarter of 2025, REE paid VND 1.86 billion in remuneration to four members of its Board of Directors. Meanwhile, three members of the Executive Board received a total salary of VND 3.84 billion, including VND 2.25 billion for Ms. Nguyen Thi Mai Thanh.