05:21 (GMT +7) - Thursday 23/11/2017

BUSINESS SPOTLIGHT

Vietjet set to pay dividends

Released at: 13:17, 17/07/2017 BUSINESS SPOTLIGHT

Vietjet set to pay dividends

Photo: Vietjet

Board issues resolution on July 14 regarding dividend payments for this year.

by Doanh Doanh

The Board of Directors at Vietjet Air (HoSE: VJC) issued a resolution on July 14 approving an advanced dividend payment for 2017 in the first stage of 20 per cent in cash (VND2,000, or 90 US cents) per share.

The registration deadline is July 31, which means the ex-dividend date is on July 28. The dividend will be paid on August 15. With Vietjet’s charter capital standing at VND3.224 trillion ($142 million), the total dividend to be paid is VND645 billion ($28.3 million).

Besides the above dividend payment, Vietjet will also soon confirm a bonus share dividend of 40 per cent following the allocation of 2016 profits, which was approved at the company’s 2017 annual shareholders meeting and is now before the State Securities Committee for consideration and approval. In 2017, it plans to pay a total dividend of up to 50 per cent.

As at the end of the first quarter of this year, Vietjet’s audited redundancy capital was VND1.535 trillion ($67.5 million) and unallocated after-tax profit VND2.08 trillion ($91.5 million). Business results for second quarter are expected to be better than planned.

Vietjet is the first airline in Vietnam to operate as a new-age airline with low-costs and diversified services to meet customers’ demands. It provides not only transport services but also uses the latest e-commerce technologies to offer various products and services for consumers.

It is a member of the International Air Transport Association (IATA) and possesses IATA Operational Safety Audit (IOSA) certification. The airline was also named one of the Top 500 Brands in Asia 2016 by global marketing research company Nielsen and “Best Asian Low Cost Carrier” at the TTG Travel Awards 2015, which compiles votes from travelers, travel agencies and tour operators throughout Asia. The airline was also rated as one of the top three fastest growing airline brands on Facebook in the world by Socialbakers.

Vietjet current boasts a fleet of 48 aircraft, including A320s and A321s, and operates 350 flights each day. It has opened 67 routes in Vietnam and across the region to international destinations such as Thailand, Singapore, South Korea, Taiwan, Malaysia, China, Myanmar and Cambodia and has carried nearly 40 million passengers to date.

The carrier plans to expand its network across the Asia-Pacific region. To prepare, it has signed agreements with leading aircraft manufacturers to purchase more brand-new and modern aircraft.

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