In a newly published announcement, Song Da Industrial Park and Development Investment Joint Stock Company (stock code SJS) said it will postpone the payment of cash dividends for the years 2016 - 2017 from June 30, 2023 to December 31, 2024 due to the difficult financial situation and the company has not yet arranged the source of money to pay dividends as announced.
Up to now, this company has requested to defer the 2016 dividend payment 7 times compared to the original payment date of January 25, 2018. The company paid the dividend for the 2 years 2016 - 2017 in cash at a rate of 10%.
Many businesses delay paying dividends to shareholders for 10 - 15 years.
Similarly, the Joint Stock Company Song Da 10 (stock code SDT) announced to change the 2019 dividend payment date from June 28, 2023 to March 28, 2024 due to the reason that debt collection did not achieve the expected results. Meanwhile, the unit had to make prepayments of debts and obligations to the State budget such as taxes and social insurance, so it could not balance the cash flow to pay dividends as planned. This reason is similar to SDT's previous dividend postponements.
Another company, Song Da 4 Joint Stock Company (stock code SD4), also announced the adjustment of the 2016 cash dividend payment date for the 12th consecutive time. Accordingly, the payment date will be moved from June 30, 2023 to June 28, 2024. The reason continues to be the difficulty in debt collection and the inability to balance finances to pay dividends.
Notably, Dong Do Petroleum Joint Stock Company (stock code PFL) even postponed the second cash dividend payment in 2010 from June 29, 2023 to June 30, 2025, citing the impact of the pandemic on production and business activities, and the work of capital recovery, debt collection, or divestment in projects not meeting the set plan. The company prioritized focusing capital on maintaining and expanding production and business. Thus, the company has deferred dividends to shareholders for up to 15 years.
Many businesses owe dividends for more than ten years
Meanwhile, A Cuong Minerals Group Joint Stock Company (stock code ACM) announced to postpone the first dividend payment of 2015 from June 30, 2023 to June 28, 2024. The reason given by ACM is that the impact of the Covid-19 pandemic since 2020 has caused the company's production activities to stagnate, accumulated losses have increased, so there is no financial source to pay dividends on time. This is the 9th consecutive extension of the 2015 dividend payment of this company.
Meanwhile, Binh Thuan Agricultural Services Joint Stock Company (stock code ABS) announced to extend the 4th cash dividend payment in 2021 to August 31, 2023 instead of May 31 as planned. The reason is due to general difficulties affecting revenue from customers, the revenue plan is not as expected, so the company needs more time to balance cash flow...
Source: https://thanhnien.vn/doanh-nghiep-khat-no-co-tuc-15-nam-185230701091049899.htm
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