According to the VietNam Association of Seafood Exporters and Producers, exports in November 2023 increased by 6% compared with November 2022, reaching nearly US$840mil. — Vietnam News
HANOI: Recent announcements from two prominent enterprises in the seafood industry indicating substantial dividend payments indicate the industry’s recovery.
According to the VietNam Association of Seafood Exporters and Producers, exports in November 2023 increased by 6% compared with November 2022, reaching nearly US$840mil.
Except for shellfish, the exports of primary products in November 2023 surpassed the same period last year, with shrimp increasing by 4%, tuna by 26%, pangasius by 12%, squid and octopus by 3% and other sea fish by 4%.
Vinh Hoan Joint Stock Co has approved a stock dividend plan of 20% for 2022.
As part of this plan, Vinh Hoan will issue 37.4 million shares for dividend payment, with a ratio of 100:20 (shareholders owning 100 shares will receive an additional 20 shares).
The dividends will be paid from undistributed after-tax profits as of Dec 31, 2022, and the expected release time is within 45 days from the date the State Securities Commission receives all the necessary documents from Vinh Hoan.
After the dividend payment, the charter capital of Vinh Hoan will increase by more than 374 billion dong, reaching 2.24 trillion dong.
In the third quarter of 2023, Vinh Hoan recorded a net revenue of 2.7 trillion dong, representing a 17% decrease compared with last year.
Despite reduced costs of goods sold, Vinh Hoan’s gross profit declined significantly from 624 billion dong to 285 billion dong, marking a 54% decrease compared to the third quarter of 2022.
Costs were reduced, with financial costs decreasing by 58% to 45 billion dong and sales and corporate management expenses decreasing by 7% to 134 billion dong. Consequently, after deducting expenses, Vinh Hoan reported a profit of nearly 201 billion dong, representing a 56% decrease compared to the same period in 2022.
Minh Phu Seafood Joint Stock Co has approved a dividend payment plan of 4.11% for 2022, equivalent to 411 dong per share.
With 399.89 million outstanding shares, it is estimated that Minh Phu will pay a total dividend of 164 billion dong.
Regarding business performance, Minh Phu Seafood recorded a net revenue of 2.99 trillion dong in the third quarter of 2023, a 41% decrease compared with the same period last year.
After deducting the cost of goods sold, the company’s gross profit decreased by 59% to 321 billion dong.
Despite an increase in interest expenses, the company reduced financial costs by 13% to 76 billion dong and sales costs decreased by 35% to 204 billion dong compared to the third quarter of 2022.
However, Minh Phu Seafood reported an after-tax loss of 26 billion dong, while during the same period last year, it had a profit of more than 332 billion dong.
Over the year’s first nine months, the company’s net revenue reached 7.5 trillion dong, representing a 46% decrease.
After deducting expenses, the company incurred a loss of 109.7 billion dong, a significant decline compared to the profit of 571 billion dong in the same period last year. — Viet Nam News/ANN
