Mobile World will spend more than VND 700 billion to pay dividends in 2023

 Mobile World is expected to bring in revenue of 125,000 billion VND and profit after tax of 2,400 billion VND, up 5% and 14 times respectively compared to the same period last year.

Mobile World Investment Joint Stock Company (stock code: MWG) has announced the 2024 Annual General Meeting of Shareholders meeting documents, scheduled to meet on April 13 in both online and in-person forms. Accordingly, the company plans to submit to shareholders for approval a plan to pay 2023 dividends in cash at a rate of 5% (500 VND/share) in 2024. The amount this enterprise is expected to spend is about 730 billion VND. copper.

In addition to paying dividends, Mobile World plans to introduce a plan to buy back shares as treasury shares in 2024 with a maximum budget of VND 100 billion. The capital source is expected to come from undistributed retained profits (8,160 billion as of December 31, 2023). The enterprise will authorize the Board of Directors to determine the specific number of shares ordered according to the budget and purchase price at the time of repurchase.

At a meeting with investors held in February, Mobile World Chairman Nguyen Duc Tai once shared: "What do you make profits for? One is to use money to expand production and business. Second is to use money to pay dividends to shareholders. Third is to buy back treasury shares to increase the benefits of shareholders. In my opinion, those are ways the company can do to increase benefits for shareholders."

Mr. Tai gives the example that if you make 1,000 billion in profit, you can use 20% of that amount to buy treasury shares, 20% to distribute to shareholders and 60% to reinvest. These are long-term policies over the years. Regardless of how the market develops, these activities will still be implemented.

Regarding the business plan, Mobile World is expected to bring in revenue of 125,000 billion VND, profit after tax of 2,400 billion VND, up 5% and 14 times respectively compared to the same period last year.

Mobile World will spend more than 700 billion VND to pay dividends in 2023, wanting to make Era Blue the number one electronics selling chain in Indonesia - Photo 2.

To realize the above goal, MWG will comprehensively restructure "Reduce quantity - Increase quality" to enhance internal strength. At the same time, the business also sets goals for each business chain, specifically:

Mobile World (TGDD, including Topzone) and Dien May Xanh - Retailing of technology and electronics products is still the main pillar of profit for the business, and contributes about 65% of revenue.

Green Department Store - Food and consumer goods retail will contribute about 30% of revenue, grow in double digits, increase market share and start bringing profits to MWG this year.

Watch More Image Part 2 >>>

An Khang Pharmacy - Pharmaceutical retail and Avakids - Mother and baby product retail will have double-digit revenue growth, increase market share and reach break-even point before December 31, 2024. According to MWG, in 2024, An Khang can enter the expansion phase if it operates stably, effectively and builds a successful business model.

Erablue - Retailing of technology and electronics products in Indonesia will grow in double-digit revenue, increase market share and become the number 1 electronics retailer in this country of 300 million people in 2024.

Finally, Mobile World also submitted to shareholders that if the business completes the profit plan of 110% or more, it will conduct ESOP shares priced at 10,000 VND for employees, with a maximum of not exceeding 29.5 million shares. shares (equivalent to 2% of outstanding shares). If MWG completes less than 110% of the yearly profit plan, there will be no plan to issue ESOP.

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