JAS’ 2019 Profit Jumps Nearly 50% from Asset Sales, Offering Dividend at ฿1.50/Share!

Jasmine International Public Company Limited (JAS) has reported its yearly consolidated financial statement of 2019 through the Stock Exchange of Thailand as follows;

JAS reported a net profit of 7.27 billion baht in 2019, increased 47.8% from a net profit of 4.91 billion baht in 2018. The increase was mainly due to the gain on asset sales to JASIF of 7,233 million baht and the gain on sale of investment in JASIF of 1,732 million baht.

 

Moreover, the Board of Directors’ Meeting No.2/2020 of JAS convened on 4 February 2020 has deemed it appropriate to propose the shareholders’ meeting to approve the payment of dividend for the operation result of the year 2020 as detailed below.

The meeting has approved a total dividend payment of 12,315,551,061baht for the year 2019 which is equivalent to 80.02 percent of the net profit for the year 2019 according to the separate financial statements of JAS.

1) Maximum rate : 1.50 Bath per share, in the event that the number of issued and offered shares is equal to 8,210,367,374 shares (the existing number of JAS’s shares).

2) Minimum rate : 1.26 Bath per share, in the event that the number of issued and offered shares is equal to 9,708,895,696 shares.(In the event that the holders of the Warrants exercise the total remaining Warrants on 31 March 2020)

As JAS exercise date of the warrants representing the right to purchase the ordinary shares of JAS No.3 (JAS-W3) (the “Warrants”) is on 31 March 2020, such exercise could affect the number of shares of the company. Therefore, JAS currently could not calculate the exact rate of dividend payment per share.

In this regard, when the number of shares, entitled to dividend payment is final after 31 March 2020, JAS will inform the shareholders accordingly. The warrant holders should be careful in trading JAS’s securities due to the dividend payment rate is still uncertain.

The meeting has approved the Record Date to determine the names of the shareholders who are entitled to receive dividend to be on Tuesday 21 April 2020. The ex-dividend date will be on 20 April 2020 and the dividend payment date for the year 2019 to be on Tuesday 12 May 2020.