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| Inside the Hoa Sen Group factory. — Photo Hoa Sen |
Hai Noi—Hoa Sen Corporation (HSG) announced April 25th as the deadline for shareholders to be entitled to receive annual dividends for the 2022-2023 fiscal year.
According to the announcement, shareholders will receive a cash dividend of 5% per share, or VND500 per share. The total number of outstanding shares exceeds 615.9 million shares, and the estimated dividends from the company are expected to reach approximately VND308 billion (US$12.3 million). Dividend payment is scheduled for May 10th.
Looking ahead to the 2023-2024 financial year (covering the period from October 1, 2023 to September 30, 2024), Hoa Sen has devised two business planning scenarios. In the first scenario, the sales volume is expected to exceed 1.6 million tons, the net revenue is expected to be VND 34 trillion, and the profit after tax is expected to be VND 400 billion. In a more optimistic scenario, we predict that the sales volume will exceed 1.7 million tons, the net revenue will be VND 36 trillion, and the profit after tax will be VND 500 billion.
To achieve its goals for fiscal year 2023-2024, Hoa Sen's management is focusing on four solution groups: production supply, business operations, cost management and human resources management. They aim to optimize borrowing structures to minimize interest costs and reduce risks associated with exchange rate fluctuations. In addition, we plan to strengthen our export activities to ensure the balance of foreign exchange needed for importing raw materials. -VNS
