Monday, July 22, 2019 2:24:42 PM - Markets open
VN-INDEX 982.86 +0.52/+0.05%
HNX-INDEX 106.44 -0.63/-0.59%
UPCOM-INDEX 57.82 +0.28/+0.48%
TAC increases dividend by half to 24 per cent
http://vietnamnews.vn/ - 4/17/2018 10:54:51 AM
 (0 ratings. You must sign in to rate.)
Cooking oil producer Tường An Vegetable Oil Joint Stock Company (TAC) announced an increase in the dividend for last year to 24 per cent from the earlier plan of 16 per cent at its annual shareholders meeting on April 16.
 
It came on the back of outstanding business results, with pre-tax profits growing by over 98 per cent to VNĐ166 billion (US$7.3 million).
 
Revenues only rose by 9 per cent to VNĐ4.3 trillion ($188 million).
 
The company attributed the results to the strong growth in the economy and the cooking oil market.
 
Nguyễn Thị Hạnh, chairwoman of TAC, said: “The cooking oil industry is expected to grow by 8.7 per cent in 2015-20. Consumption in Việt Nam is still lower than in neighbouring countries.”
 
TAC last year made changes to its product portfolio with a focus on healthy products, she said.
 
Hạnh also hailed the merger with food producer KIDO Group.
 
“The merger with KIDO has helped us develop our logistics and distribution systems.”
 
She said the company was now the second biggest cooking oil producer.
 
The meeting also approved a 24 per cent dividend for this fiscal year. In 2018, TAC targets pre-tax profits of VNĐ250 billion on revenues of VNĐ5.1 trillion ($223.6 million).
 
Hạnh told the meeting that the targets were challenging but achievable since demand remained huge.
 
TAC plans to enter new segments with a focus on high-end products to meet the relentlessly growing demand for healthy products, she revealed.
 
“We will partner with domestic and foreign investors to enter the canned/packaged products market including sugar, instant noodles, sauces and spices.”
 
The company would continue to expand its distribution system, she said.
 
TAC, established in 1977, has two plants in Nghệ An Province’s Vinh City and Bà Rịa–Vũng Tàu Province. — VNS
 
Read original article here
Newer News
19/07 LCW: Financial Statement Quarter 4/2018
19/07 KHA: Financial Statement Quarter 4/2018 (consolidated)
19/07 TTH: Financial Statement Quarter 4/2018 (consolidated)
19/07 KTL: Financial Statement Quarter 4/2018
19/07 KLB: Financial Statement Quarter 4/2018 (consolidated)
19/07 KDF: Financial Statement Quarter 4/2018
19/07 ITS: Financial Statement Quarter 4/2018 (consolidated)
19/07 IRC: Financial Statement Quarter 4/2018
19/07 ILS: Financial Statement Quarter 4/2018 (consolidated)
19/07 HPI: Financial Statement Quarter 4/2018
Older News
16/04 VTVCab cancels IPO after few investors show interest
12/04 VGC: Viglacera plans to reduce State ownership to 36%
12/04 HVN: Ministry to auction Vietnam Airlines’ share purchase rights
12/04 Vissan targets 18 per cent pre-tax revenue increase
12/04 Banks fulfill 25-30 percent of profit goal
11/04 HPG: Hoa Phat steel grows 10 percent in Q1
10/04 SBT to buy back 83.5 million shares
10/04 Vingroup enters pharmaceutical industry
10/04 HPG: Hoa Phat exports wire drawing steel to Laos, RoK
09/04 Moody’s upgrades VPBank’s credit rating for second year
 
Newsletter Signup
Top Stories
VN has trade surplus of about $1.6 billion in H1
Trade pacts bring opportunities for seafood industry's sustainable growth
Credit institutions warned about P2P lending
CPTPP boosts export opportunities in Japan
Deutsche Bank's restructuring not expected to harm VN market
Market Update
Last updated at 2:45:04 PM
VN-INDEX 982.86 +0.52/+0.05%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.