Loc Troi Group to pay $6 million in dividends

Wednesday, Oct 17, 2018 16:15

"Hat ngoc troi" rice, a product of Loc Troi Group. — Photo tinnhanhchungkhoan.vn

Agricultural manufacturer Loc Troi Group will pay shareholders a dividend rate of 40 per cent in November as a reward for its positive results last year.

Shareholders will receive a 20 per cent dividend in the form of stock and another 20 per cent in cash. The firm expects to spend VND134.3 billion (US $5.8 million) on the payout, which will be made on November 28.

The company will finalise the list of shareholders to receive the payout on November 9.

In 2017, Loc Troi Group reported total revenues of nearly VND9 trillion ($386.3 million), a rise of 5.4 per cent over its yearly target. Its net profit reached VND446 billion ($19 million), 97 per cent of its yearly target but still 27 per cent higher than the previous year.

This year, the company has set targets of VND9.9 trillion for revenue and VND589 billion for net profit, up 13.7 per cent and 32.1 per cent respectively over the 2017 figures.

For the period ending in June, it posted a turnover of VND4.6 trillion and net profit of over VND190 billion.

Loc Troi Group – formerly An Giang Plant Protection JSC – is one of the leading agricultural manufacturers in Viet Nam. It focuses on production of seed products, crop chemicals and biological and organic products.

The State still holds a 24.2 per cent stake in the company.

Shares of the company, coded LTG on the Unlisted Public Company Market (UPCoM), lost about 13 per cent this year and are being traded around VND38,800 ($1.67) per share. The company is planning to move its listing to the Ho Chi Minh Stock Exchange next year. – VNS

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