Accordingly, TTC Land is expected to issue more than 29.3 million shares to pay dividends in 2021, at the rate of 8%. The source is realized from undistributed after-tax profit according to the Audited Consolidated Financial Statements for 2021. Last registration date is October 26.
Implementation time is in the fourth quarter after being approved by the State Securities Commission.
At the end of the first half of 2022, TTC Land recorded a net revenue of VND 495.7 billion, mainly from the Carillon 7 project in Tan Phu district (HCMC). Profit after tax reached VND 123.4 billion. According to this plan, the second half of the year will continue to open for sale the Selavia project, Phu Quoc. Operational efficiency indexes remained good, gross profit margin was 27%.
TTC Land currently owns a large land bank spanning provinces such as Ho Chi Minh City, Da Nang, Phu Quoc, Da Lat,… with 3 main segments: residential real estate, commercial real estate and tourism real estate. Currently, the company is continuing to expand its land bank in provinces with high urbanization rate such as Long An, Mekong Delta, Dong Nai, Lam Dong.
TTC Land's total assets at the end of the second quarter were VND 9,880 billion, mainly in receivables of more than VND 3,315 billion, inventories of VND 2,857 billion, accounting for nearly half of unfinished real estate (including expenses investment and development expenses) of the Jamona City project with a value of 1,171 billion VND.
Total liabilities are VND 4,738.8 billion, of which short-term and long-term loans are more than VND 1,800 billion. Equity was recorded at VND 5,141 billion.
TTC Land is one of the real estate companies that maintains a safe debt ratio, lower than the industry average, the loan to equity ratio is only 0.35 times, debt to equity is 0.92 times.