Photo: mekongasean.vn
The company plans to issue more than 20 million shares for the payment. With the rate of 25%, shareholders own 100 shares and will receive 25 new shares.
Loc Troi has not paid cash dividends to shareholders since 2018. In previous years, the corporation usually pays dividends both in cash and shares. Dividends in 2020 and 2019 were 15% and 10% in cash, respectively.
From there, the number of outstanding shares increased from 80,5 million to 105,4 million. After being approved by the State Securities Commission of Vietnam (SSC), the implementation period will begin in the third quarter.
Loc Troi’s total revenue reached VND 6,231 billion in the first 6 months, with a rate of 4%. Particularly, rice still accounts for the majority with 67%, equivalent to VND 4,219 billion (an increase of 24% compared to the first half of 2022).
However, the total debt was about VND 6,950 billion at the end of the second quarter, mainly short-term loans. Meanwhile, the owner’s equity reached VND 3,392 billion including VND 1,541 billion of undistributed profit after tax.
In October, seven banks – one local and six international – agreed on a three-year, $100 million syndicated loan for Loc Troi to invest in growing high-quality rice production.
The financing package, according to the organization, will be used to supply seeds, agricultural supplies, and services to cooperative alliances, cooperatives, production groups, and associate farmers.
Military Bank of Vietnam; Kasikornbank (Thailand); First Commercial Bank, E.SUN Commercial Bank (Taiwan); Agricultural Bank of China Limited – Hanoi branch; China Construction Bank Corp. – HCMC branch; and CTBC Bank Co. Ltd (mainland China) were the seven credit sources.