The Board of Directors of F.I.T Group Joint Stock Company (FIT Group) just issued a resolution to pay 2020 dividends in shares at the ratio of 10:1 (equivalent to 10%).
Precisely, FIT Group will issue an additional 25,473,024 shares (temporary) to pay 2020 dividend at the rate of 10:1 for existing shareholders.
In addition, due to the additional issuance of 8,000,000 shares under the employee selection program (phase 1) and will also be paid dividends in this round at the rate of 10:1, the total number of shares issued adding 26,273,024 shares.
In the second quarter of 2021, FIT Group recorded a big spike in profit. Specifically, the profit after tax in the second quarter reached 149.2 billion VND, 5 times higher than the plan and in the first 6 months of the year, the profit after tax reached 163.6 billion VND, completing 93% of the target. set at 176.2 billion dong for the whole year. Profit after tax in the first 6 months of this year is also nearly double the profit after tax of the whole of 2020.
The improvement in corporate performance was also recognized by the independent audit agency VACO when they recently set a valuation of VND 10,000 billion in net asset value with the current charter capital of VND 2,500 billion. This price corresponds to a value of 40,000 VND per share. This value does not include the value of assets that have not been revalued at market prices such as alkaline water mines and the value of land owned by member companies.
