Shareholders of MTC voted for a dividend payout of 0.37 baht per share, going ex-dividend on April 29 with a payment scheduled for May 17, echoing Q1/2021's robust performance

Green light for dividends for the fiscal year 63 at a rate of 0.37 baht per share, marked 'XD' on April 29 and set to cash in by May 17. CEO, Chuchat Petaumpai, proudly lauded Q1/2021's robust quarter, marked by a significant surge in new loans, attributing it to aggressive branch expansions aligned with plans and gearing up for sustained growth in the motorcycle leasing market, catering to customer demands.

Chuchat Petaumpai, the CEO of Muangthai Capital Public Company Limited (MTC), disclosed that during the annual shareholder meeting of the fiscal year 2021, resolutions were passed to pay dividends for the 2020 fiscal year at a rate of 0.37 baht per share for 2,120,000,000 shares, amounting to a total dividend of 784,400,000 baht, equivalent to 15.01% of the net profit. The Record Date for eligible shareholders to receive dividends is April 30, 2021, with the payment slated for May 17, 2021.

"Despite the previous year's challenges due to the COVID-19 pandemic impacting various industries, including MTC itself, effective management and experienced leadership allowed the company to navigate without compromising operations. Efficient management coupled with stringent credit quality control mitigated non-performing loans (NPLs), ensuring revenue generation," stated Chuchat Petaumpai

The fiscal year 2020 yielded a net profit of 5,214 million baht, marking a 23.06% increase from the previous year's 4,237 million baht, with the portfolio standing at 70,607 million baht, a 17% increase compared to 60,253 million baht in 2019. NPLs remained low at 1.06% of the total portfolio.

The first quarter of 2021 is anticipated to set new records, buoyed by an expanding new loan growth as the company continued its aggressive branch expansion. From the beginning of the year until the end of March, 121 new branches were opened, bringing the total to 5,005 nationwide.

Chuchat Petaumpai, the CEO, further mentioned that in fiscal year 2021, the company allocated 300 million baht for branch expansions and plans to open an additional 600 branches, aiming to reach 5,500 branches by year-end. This initiative aims to accommodate individuals facing challenges accessing financial institution services, boosting credit portfolio growth by 20-25%. Additionally, the company prioritizes the motorcycle leasing business, confident in a positive customer response, considering a segment of customers, from a base of over 2 million, seeking to purchase new motorcycles. This strengthens the portfolio and reduces loan risks, with the company targeting to cap NPLs at 2% this year, down from the previous year's 1.06%