The share price of Sri Trang Agro-Industry Public Company Limited (SET: STA) and Sri Trang Gloves (Thailand) Public Company Limited (SET: STGT) surged on Monday after both parent and subsidiary companies announced their earnings results for 2022 along with dividend payout.
STGT reported lower net profit for the year as demand for rubber gloves and average selling prices slowed down as Covid-19 outbreak subsided, which dragged the performance of STA, its parent company, down as well.
Still STGT announced a dividend payout of THB0.25 per share from its operations as well as retained earnings. Meanwhile, STA announced a THB1.00 dividend handout. Both will be paid on 8 May 2023 with an ex-dividend payment on 19 April.
The share price of STGT rose THB0.60 or 5.71% to THB11.10 per share during the morning session on Monday, while STA gained THB1.10 or 4.62% to THB24.90 per share.
STA lost 32% of its share price in 2022, while STGT lost 67%.
