Thai Union Group Public Company Limited or TU reports the results for the year 2020 ending 31 December 2020 as follows:
The 2020 performance rose as a result of strong core business, the company reported a record higher net profit of 6 billion baht for the first time at 6,246 million baht, a 64% increase from the previous year. Despite deducting legal expenses in the United States in 2019, net profit from normal operations increased 20% from the previous year.
In Q4 / 2020, the company’s sales increased 1.9% compared to the fourth quarter of 2019 to 33,464 million baht, due to the sales of processed seafood business group that grew 8.8% from the previous year due to the 6.9% increase in sales of animal feed business Value-added products and others increased 8.0%, with total sales in 2020 increased 4.9% to 132,402 million baht.
While the company announces the dividend payment for the operating period from June 1, 2020 to December 31, 2020, the rate of cash dividend payment) is 0.40 baht per share, the date for determining the names of eligible persons to receive dividends (Record date). March 9, 2021 Date not receiving right of dividend (XD) 8 Mar 2021 Dividend payment date 21 Apr 2021
In addition, the company has divested its investments in Seafood International One FZCO and Seafood International Two FZCO in the United Arab Emirates. Withdrawal from the purchase of 50% of the total shares in Seafood International Two FZCO (SIC2) and 10% of the total shares in Seafood International One FZCO (SIC1), a wholly owned subsidiary of the Company. SIC2 and SIC1 previously entered into a joint venture with Savola Foods Company, which operates food and retail operations in the Middle East and North Africa (MENA) region. The company holds 50 percent of the total shares in SIC2, which owns 80 percent of SIC1 and directly holds a further 10 percent in SIC1.SIC1 and SIC2 are known as the SIC Group (SIC Group).
As for status after divestment, the Company does not hold any stakes in Seafood International One FZCO and Seafood International Two FZCO. Apart from this, the directors appointed by the Company will resign from their positions. Therefore, the Company will not have any involvement or control in the management of both companies.