MWG closed the right to pay 15% cash dividend and will pour another 3,000 billion dong to Bach Hoa Xanh right this year
MWG said that the purpose of this capital increase is to serve the business development and expansion plan. Capital increase period in 2020.
The Board of Mobile World Investment (Ticker: MWG) has just passed a resolution to add an additional 3,000 billion dong of charter capital to Bach Hoa Xanh Trading Joint Stock Company.
MWG said that the purpose of this capital increase is to serve the business development and expansion plan. Funds from equity capital or undistributed retained earnings. Capital increase period in 2020.
Previously, MWG also planned to increase VND 3,000 billion to Bach Hoa Xanh in June 2020. According to updated information in the 2019 Annual Report, Bach Hoa Xanh has a charter capital of 3,629 billion VND.
At the same time, the MWG Board of Directors also approved the resolution to pay cash dividends based on 2019 business results for existing shareholders, at a rate of 15% in cash. Exemption and final registration dates are October 19 and October 20, respectively.
With nearly 453 million shares outstanding, MWG expects to spend nearly 680 billion dong to pay this dividend to shareholders. Expected dividend payment date is October 30, 2020.
Recently, MWG also announced its business results for the first 8 months of the year and said that, under the impact of the 2nd outbreak of COVID-19, in August, more than 180 Gioi Di Dong and Electronics stores. Green is directly affected by business because of having to close (located in blocked areas) or limited number of customers allowed to serve in the store.
In that context, the company still recorded a separate revenue of more than 8,660 billion in August, approximately revenue in July and increased 9% compared to the same period in 2019 equivalent to July and up 14% compared to August 2019.
The net profit margin in August was maintained at 3.8%. This result helped MWG maintain the accumulated net profit margin in the first 8 months of the year at 3.7%.
In the first 8 months of 2020, MWG achieved consolidated net revenue of 72,970 billion VND, an increase of 6%, but profit after tax decreased slightly by 1% to 2,679 billion VND compared to the same period in 2019.
After 8 months, the company has completed 66% of the revenue plan and 78% of the profit after tax plan for the year.
Source: vietnambiz.vn – Translated by fintel.vn
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