Value Exchange International, Inc Declares First Cash Dividend and Announces Pilot Program to Install Smart Vending Machines (“SVMs”) for Major Chinese Gas Station Chain

Rhea-AI Summary

Value Exchange International, Inc. (OTCQB: VEII) declared a one-time cash dividend of $0.005 per share, payable on May 15, 2021, to shareholders of record by April 16, 2021. This marks the company's first cash dividend. The company is also participating in a pilot program to install Smart Vending Machines (SVMs) at select locations of a major Chinese gas station chain, with potential for future expansion if successful. Notably, VEII reported a 147% increase in gross revenues for FY2020 compared to FY2019.

Positive

• Declared a one-time cash dividend of $0.005 per share.
• Reported a 147% increase in gross revenues for FY2020 compared to FY2019.
• Selected for a pilot program to install SVMs in a major Chinese gas station chain.

Negative

• Future dividends are not guaranteed and depend on Board approval and financial performance.
• The pilot program success for SVMs does not ensure future sales or profitability.

Value Exchange International, Inc. (OTCQB: VEII) announced today that: (1) its Board of Directors has declared a one-time cash dividend of $0.005 per share of Common Stock. The Company's dividend is payable to shareholders of record on April 16, 2021, and is expected to be paid on May 15, 2021. This is the first cash dividend paid to holders of the Common Stock; and (2) Company has been selected for a pilot program to install SVMs in select stores of a major Chinese gas station chain. If the pilot program is successful, Company would install SVMs in other to-be-determined gas stations.

“As reported in our Annual Report for Fiscal Year 2020, we experienced a 147% increase in gross revenues in FY2020 compared to FY2019 revenues. We are focused on improving net income and margins as goals for FY2021, especially by exploring an expansion of our customer base and new technology offerings. The pilot program to install SVMs in a major Chinese gas station chain with 10,000+ stores is just one example of our new growth initiatives.” Installation of SVM’s in the chain is subject to successful pilot program,” said Kenneth Tan, Chief Executive Officer of Company.

About Value Exchange: Company is a U.S. public holding company headquartered in Hong Kong, with offices in Shenzhen, Guangzhou, Shanghai, and Beijing China, Manila and Kuala Lumpur. Company provides integrating, market-leading Point-of-Sale/Point-of-Interaction (POS/POI), Merchandising, CRM & Reward, Locational Based (GPS & Indoor Positioning System (IPS)) Marketing, Customer Analytics, and Business Intelligence solutions. Company’s retail POS solutions process tens of millions of transactions per year at approximately 20,000 retail outlets in Asia.

Forward Looking Statements. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act relating to Company dividends, financial results and SVM pilot program. There can be no assurance that future dividends will be declared. There is no assurance of any future declaration of dividends. The declaration of future dividends is subject to approval of our Board of Directors after its review of financial performance and cash needs. Declaration of future dividends is also subject to various risks and uncertainties, including: cash flow and cash needs; compliance with applicable law; restrictions on the payment of dividends under existing or future financing arrangements; changes in tax laws relating to corporate dividends; the deterioration in our financial condition or results, and those risks, uncertainties, and other factors identified from time-to-time in Company filings with the Securities and Exchange Commission. The pilot program for SVMs may not result in orders for SVMs and, even if the pilot program, there is no assurance about the number of SVMs that may be ordered or if the SVMs program would be profitable. Pilot programs are not indicative and do not portend future growth in business. Financial results in one fiscal year are not indicative of future results. URL’s are not incorporated herein.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210421005632/en/

FAQ

What is the dividend amount declared by VEII?

Value Exchange International declared a one-time cash dividend of $0.005 per share.

When will the VEII dividend be paid?

The dividend is expected to be paid on May 15, 2021.

What was the revenue increase for VEII in FY2020?

VEII experienced a 147% increase in gross revenues in FY2020 compared to FY2019.

What is the significance of the pilot program for VEII?

The pilot program could lead to the installation of Smart Vending Machines in a major Chinese gas station chain, potentially expanding their market presence.

Are future VEII dividends guaranteed?

No, future dividends are subject to Board approval and can be affected by financial performance and cash needs.