Light, flask maker Rang Dong to lower cash dividend rate to 35%

Saturday, Apr 25, 2020 07:25

Inside the lab at Rang Dong Light Source and Vacuum Flask JSC. — Photo

Rang Dong Light Source and Vacuum Flask JSC will pay a cash dividend of a minimum 35 per cent in the next two years.

From 2017-19 the company paid a dividend of 50 per cent, with payments made twice per year.

On Friday, the second cash dividend payment for 2019 was made at a rate of 25 per cent, meaning every shareholder received VND2,500 per share.

The first dividend for 2019 was made on September 24, 2019.

Rang Dong in 2019 posted a 17.3 per cent annual increase in revenue, which touched VND4.27 trillion (US$181.47 million). The figure beat the firm’s target last year by 18 per cent.

But pre-tax profit fell more than one third on-year to VND161.5 billion, meeting only 79 per cent of the plan, as the company suffered a loss of VND36 billion in the fourth quarter due to a factory blaze in late August.

In the first quarter of 2020, Rang Dong reported VND1.1 trillion in revenue, up 9.7 per cent on-year, and VND75.4 billion in post-tax profit, up 45 per cent on-year.

The light and flask producer will hold its annual shareholders’ meeting on May 9. It targets to achieve VND7 trillion in revenue in 2022.

Rang Dong shares (HoSE: RAL) ended Friday flat at VND72,000 apiece. — VNS

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