Lộc Trời Group to pay $6 million in dividends

"Hạt ngọc trời公众rice, a product of Lộc Trời Group. — Photo tinnhanhchungkhoan.vn

HÀ NỘI – Agricultural manufacturer Lộc Trời Group will pay shareholders a dividend rate of  四0 per cent in November as a reward for its positive results last year.

Shareholders will receive a  二0 per cent dividend in the form of stock and another  二0 per cent in cash. The firm expects to spend VNĐ 一 三 四. 三 billion (US $ 五. 八 million) on the payout, which will be made on November  二 八.

The company will finalise the list of shareholders to receive the payout on November  九.

In  二0 一 七, Lộc Trời Group reported total revenues of nearly VNĐ 九 trillion ($ 三 八 六. 三 million), a rise of  五. 四 per cent over its yearly target. Its net profit reached VNĐ 四 四 六 billion ($ 一 九 million),  九 七 per cent of its yearly target but still  二 七 per cent higher than the previous year.

This year, the company has set targets of VNĐ 九. 九 trillion for revenue and VNĐ 五 八 九 billion for net profit, up  一 三. 七 per cent and  三 二. 一 per cent respectively over the  二0 一 七 figures.

For the period ending in June, it posted a turnover of VNĐ 四. 六 trillion and net profit of over VNĐ 一 九0 billion.

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

The State still holds a  二 四. 二 per cent stake in the company.

Shares of the company, coded LTG on the Unlisted Public Company Market (UPCoM), lost about  一 三 per cent this year and are being traded around VNĐ 三 八, 八00 ($ 一. 六 七) per share. The company is planning to move its listing to the Hồ Chí Minh Stock Exchange next year. – VNS