A production line at one of Quang Ngai Sugar JSC's factories. The company will issue 58.5 million dividend shares for 2018 and finalise the list of beneficial shareholders on May 10. — Photo vietnamfinance.vn

Quang Ngai Sugar JSC (UPCoM: QNS) will issue more than 58.5 million dividend shares for 2018 at the rate of 20 per cent.

That means each shareholder will receive 20 new shares for every 100 shares they own.

The value of the deal is VND585 billion (US$25 million). The share issuance will help increase the firm’s charter capital to VND3.5 trillion from VND2.9 trillion.

Quang Ngai Sugar JSC will finalise the list of beneficial shareholders on May 10.

Last year, the company earned a record-high revenue of more than VND8 trillion, boosting its post-tax profit up 20.6 per cent year on year to VND1.24 trillion.

In the first quarter of 2019, the firm reported its revenue rose 25 per cent year on year to more than VND2 trillion.

However, its post-tax profit fell 18 per cent year on year to VND155 billion due to increased expenses for advertising and higher selling cost.

The company is trading more than 292.5 million shares on the Unlisted Public Company Market (UPCoM) with code QNS.

Its shares edged down 0.2 per cent to close Friday at VND42,000 ($1.80) per share. — VNS