COCOCO Eyes 40% Revenue Growth with THB0.25 Dividend Payment in May

April 9 and 10, 2024 are the only days left for investors to buy shares from Thai Coconut Public Company Limited (SET: COCOCO) and receive the latter semi-annual dividend of fiscal year 2023 at the rate of THB 0.25 per share before it turns XD (ex-dividend date) on April 11, 2024. This gives a 2% yield from the dividend at the closing price of THB 11.30 on April 5, 2024.

Worawat Chinpinkyo, CEO of COCOCO, revealed that a shareholders’ meeting held on April 3, 2024, approved an additional dividend payment at the rate of THB 0.25 per share, totaling THB 367.50 million. The XD date is set for April 11, 2024; the record date that lists the shareholders entitled to receive dividends is on April 17, 2024; and the dividend payment date is appointed for May 2, 2024.

Meanwhile, the company has paid interim dividends at the rate of THB 0.20 per share, amounting to THB 294 million. Therefore, for the fiscal year 2023, the company paid a total dividend of THB 0.45 per share, amounting to dividend payments of THB 661.50 million.

As for the performance for the fiscal year 2023, the company had total revenue of THB 4,680 million, an increase of 38.17% from the previous year. Net profit stood at THB 540 million, an increase of 75.98% from last year. The revenue consisted of coconut milk products (45.19%), coconut water products (44.67%), animal food products (6.84%), and other products (3.90%).

Worawat further stated, “The strategy of COCOCO focuses on the production, distribution, and export of coconut-based products in order to maintain the leading position as Thailand’s number one coconut water exporter. In 2023, the company aims to grow revenue by 30-40% from the previous year’s total income of THB 4,680 million, owing to an expansion of customer base, amplified marketing strategies to boost sales overseas, and increased brand sales. Coupled with the promising growth trend in coconut water products, the strategy aligns with the coconut water business still being in the global health mega-trend with sustainable growth potential in the future.”