MSN won't pay dividend again

[ducvt]

Masan Group Corporation (MSN) posted better revenue and profits but decided not to pay dividends for 2015 at the annual general shareholder meeting in HCM City yesterday. MSN announced net sales of VND30.6 trillion (US$1.37 billion) and a profit after tax of nearly VND1.5 trillion, an increase of 90 per cent and 37 per cent respectively from 2014.
It clarified that of the total sale, Masan Nutri-Science (including Anco and Proconco) contributed VND14 trillion. Masan holds 75.2 per cent of stake in animal feed producer Proconco and 70 per cent of stake of International Agriculture Nutrition JSC Anco.
The food and beverage segment contributed VND13.9 trillion with the strong growth of coffee and beer products.
The mineral mining and processing segment contributed VND2.65 trillion, down six per cent from 2014 as the prices of Tungsten fell 38 per cent last year.
Techcombank, a member of the group has reduced the non-performing loan ratio to below 1.5 per cent from the past year and recorded an increase of 43.8 per cent in profit before tax.
This year, Masan planned a net sale of VND42 trillion to VND45 trillion, as much as an increase of between 37 and 47 per cent from 2015. It also planned a profit after tax of VND1.9 trillion to VND2 trillion, or 29 to 35 per cent up over 2015.
MSN chairman Nguyen Dang Quang said the recent investment in meat producer Vissan of Masan Nutri Science would shorten the group's tour to complete the close chain from animal protein, livestock husbandary and food products.
No dividend to be paid
While posing better revenues and profits, MNS decided not to pay the dividend for 2015, just as they decided for the previous seven years. Chairman Quang said the group had more than $1 billion in cash that can make up the strength of the group in its high-return investment. He said MSN would not pay the dividend this year as it still needed capital for further development and investment.
However, MSN issued 10 million shares of ESOP for employees at a price of VND10,000 each. The ESOP would help employees to stay and contribute for the group.
At the meeting MSN also announced it would issue nine million shares for Jade Dragon (Mauritius Limited) - JDML or its associated company based on the convertible loan between 2016 and 2017.

[traderviet]

thank you for your contribution mr ducvt