Friday, 20 Sep 2019

Thaibev to receive US$21.42 million in cash dividend from Sabeco

Updated at Wednesday, 26 Sep 2018, 23:25
The Hanoitimes - Sabeco is calculated to pay a total of VND962 billion (US$41.21 million) on dividend.
ThaiBev, which owns a 53.59% stake in Saigon Beer Alcohol Beverage Corp (Sabeco) through its local unit Vietnam Beverage, is expected to receive VND500 billion (US$21.42 million) of 2018 dividend in cash from Vietnam's largest brewer. 
Illustrative photo.
Illustrative photo.
Sabeco's board of directors on September 25 issued a resolution approving the first prepayment of 2018 dividend in cash. 

With payment rate of 15%, existing shareholders will receive VND1,500 (US$0.064) for every share owned. Total payment amount this time is estimated at VND962 billion (US$41.21 million). 

ThaiBev - controlled by tycoon Charoen Sirivadhanabhakdi - is expected to receive over VND500 billion (US$21.42 million) as the company currently holds 343 million shares or 53.59% stake at Sabeco. 

As the second largest shareholder of Sabeco, Vietnam's Ministry of Industry and Trade is set to receive VND346 billion (US$14.82 million) for a 36% stake under its ownership. 

Sabeco expected the rate for its prepayment of 2018 dividend to be 35%, which will be carried out in two tranches. After the first payment date of October 31, the brewer will pay the remaining 20% in December. 

Sabeco has set its pre-tax profit target in 2018 at VND4 trillion (US$173.2 million), down 19% year-on-year, following a decline in Vietnam's beer consumption. Nevertheless, the company targeted its market share to increase by five percentage points from the current 40%.

In 2017, Sabeco alone produced 1.77 billion liters of beer, an increase of 6.6% year-on-year, while the second largest domestic brewer, Habeco (18% market share), brewed 657.6 million liters, down 6.5%.
Hai Yen
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