CHAYO’s 2Q Profit Jumps 50% due to Higher Interest Income, Giving Dividend in Cash&Stock

Chayo Group Public Company Limited (CHAYO) has reported its 2Q20 consolidated financial statement through the Stock Exchange of Thailand as follows;

CHAYO reported a net profit of 49.98 million baht in 2Q20, increased 49.72% compared to the same period last year. The reason for an increment mainly arose from the increment of interest income, and gain on disposal of the foreclosed asset (or NPAs). The total income for the second quarter of 2020 was 121.11 million baht, increased 54.10% compared to the same period last year, mainly due to an increment of interest income from loan to non-performing assets around 44.45 million baht, an increment of income from lending around 1.79 million baht and income from sales around 0.3 million baht.

In addition, the Board of Directors has approved a common stock dividend payment at the rate of 20 existing shares per 1 ordinary share, representing stock dividend at ฿0.025/share, and a cash dividend at the rate of 0.0027777 to be paid on October 21, 2020. The ex-dividend date is October 1, 2020.