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Safoco (SAF) sustains high dividend payouts amidst market success
With approximately 12 million shares in circulation, Safoco is set to disburse around VNĐ36 billion (US$1.4 million) as an interim dividend for fiscal year 2024.
A customer buying Safoco products at a supermarket. — Photo safocofood.com
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Safoco Foodstuff JSC revealed its plans to finalise a shareholder list to distribute a cash dividend of 30 per cent on January 7, 2025.
With approximately 12 million shares in circulation, Safoco is set to disburse around VNĐ36 billion (US$1.4 million) as an interim dividend for fiscal year 2024.
The payment is scheduled just before the Lunar New Year, on January 16, 2025, ensuring that SAF shareholders will receive a dividend of VNĐ3,000 per share.
This move, consistent with the company's long-standing track record, signifies a commitment to maintaining a robust and regular dividend payout, averaging around 30 per cent annually for over a decade.
Known for its reputation as a dividend-focused enterprise, Safoco stands out as one of the few companies that consistently allocate their profits to dividends.
Earlier this year, the company disbursed VNĐ36 billion in cash dividends for the year 2023, maintaining a 30 per cent dividend ratio.
Safoco has also demonstrated a strong performance in the stock market.
The company's shares (SAF) have shown resilient growth since their listing.
SAF shares closed last week with a gain of 3.13 per cent to VNĐ66,000 per share, marking a 34.2 per cent increase since the beginning of the year. However, the stock's liquidity remains relatively low, with only a few thousand units traded per session.
As a subsidiary of the Southern Food Corporation (Vinafood II), Safoco's major shareholders include the parent company holding nearly 4.9 million SAF shares, representing 40.39 per cent of the total equity.
The second-largest shareholder, with over 14 per cent equity ownership equivalent to nearly 1.7 million SAF shares, is Phạm Thị Thu Hồng, the CEO of Safoco.
Bizhub
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