Matichon Approves 0.10 Baht Dividend Per Share, Continues Business Restructuring While Affirming Quality Media Standards
Matichon approved a 0.10 baht dividend per share while shifting its business model toward online advertising, which now represents 52% of revenue as the Thai media company navigates industry-wide disruption through cost-cutting and restruct
Managing Director Praapat Bunpan of Matichon Public Company Limited announced that the board of directors approved a dividend payment of 0.10 baht per share for fiscal year 2568, totaling 18,534,920 baht from retained earnings on 185,349,200 shares. The dividend rate matches the previous year's payout despite economic challenges. The company has faced significant disruption in the media business over the past two years, a struggle shared across the media industry in Thailand's stock market.
Praapat stated that Matichon is continuously restructuring its revenue streams, with online advertising now accounting for 52% of income, special events and activities contributing 27%, and traditional print advertising declining to just 20%. The book business (pocketbooks) remains strong, representing 45% of total sales, particularly during book festivals in April and October.
A key cost management measure involved an early retirement program costing approximately 90 million baht, which is expected to reduce annual personnel and employee welfare expenses by 36 million baht starting in 2569. The company faces two primary challenges: cost reduction and current revenue generation, requiring periodic review of business models and organizational structure.
Praapat acknowledged that while the company has attempted new business models, none have fully replaced the traditional model. He stated that 2569 may require reconsideration of daily newspaper operations, but the company has not yet raised prices due to concerns about damaging print media business confidence amid weak economic conditions. He reaffirmed that Matichon will continue operating under professional media standards while seeking business survival strategies.
Financially, the company reported current assets of 774 million baht (down 158 million from 2567's 933 million), total assets of 1,583 million baht (down 199 million), and liabilities of 287 million baht (down 30.7 million). Sales and service revenue declined to 464 million baht from the previous year's 590 million baht.
