10:57 (GMT +7) - Friday 23/03/2018


Vietjet advances second dividend for 2017

Released at: 14:50, 11/01/2018 BUSINESS SPOTLIGHT

Vietjet advances second dividend for 2017

Photo: Vietjet

Second 2017 dividend to paid in cash on February 7.

by Doanh Doanh

Vietjet Air (HoSE stock code VJC) shareholders will be very happy when celebrating the Tet holiday because of the new-age airlines’ business achievements in 2017, with its Board of Directors giving approval to advancing the second cash dividend payment for 2017 at a rate of 10 per cent. The next dividend payment is expected to be 30 per cent, in shares.

The close of registrations for receiving the cash dividend is January 23 and the ex-rights date January 22. Vietjet will pay the dividend to shareholders on February 7. With more than VND4,513 billion ($198.6 million) in charter capital, it will outlay some VND451 billion ($19.8 million) on the dividends. 

Its two cash dividends for 2017 paid so far total 30 per cent.

The dividend payout ratio for 2017 approved at the annual shareholders meeting last April was 50 per cent, but due to business results being better than planned, the Board of Directors sought shareholders’ opinions and received approval to increase the total dividend payout from 50 per cent to 60 per cent.

As at the end of the third quarter of 2017, Vietjet’s pre-tax profit stood at approximately VND3 trillion ($132 million).

Its fourth quarter results are expected to be handsome. Investment has been continually placed into new aircraft, with it receiving 12 new aircraft in the fourth quarter of 2017, raising its total new aircraft in 2017 to 17.

Vietjet Air is the first airline in Vietnam to operate as a new-age airline with low-cost and diverse services to meet customer demand. It provides not only transport services but also uses the latest e-commerce technologies to offer various products and services to passengers.

It currently boasts a fleet of 55 aircraft, including A320s and A321s, and operates 350 flights each day. It has already transported more than 50 million passengers on a network of 78 routes in Vietnam and across the region to international destinations such as Thailand, Singapore, South Korea, Taiwan, Hong Kong, Mainland China, Malaysia, Indonesia, Myanmar, and Cambodia.            

Looking ahead, it plans to further expand its network across the Asia-Pacific region. To prepare, it has signed agreements with aircraft manufacturers to purchase more aircraft.

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