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Vietjet outlays $20mn on 10% cash dividend

Released at: 19:27, 26/05/2018

Vietjet outlays $20mn on 10% cash dividend

Photo: Vietjet

Payment completes 2017 cash dividend of 40%.

by Ngoc Lan

The Vietjet Aviation Joint Stock Company has spent VND451 billion ($20 million) on paying a cash dividend of 10 per cent to its shareholders.

This payment finalizes its 2017 cash dividend payment of 40 per cent, with 20 per cent to also be paid in shares. The budget carrier has regularly paid high dividends over the years, sometimes at 100 per cent.

It has approved a dividend payment of 50 per cent for 2018.

Vietjet’s high growth continued in the first quarter of 2018. Revenue stood at VND12.56 trillion ($558 million), an increase of 146 per cent year-on-year, thanks to growth in passenger air transport, ancillary services, and sales and leaseback revenue.

After-tax profit of the parent company’s shareholders reached VND1.366 trillion ($60.7 million), a 263 per cent increase year-on-year. Pre-tax profit was $358 million, or 25.5 per cent of the annual target.

Earnings per share in the quarter were VND3,026 ($0.13); among the highest on Vietnam’s stock market.

As at March 31, Vietjet’s undistributed after-tax profit was VND6.724 billion ($298 million).

Vietjet currently operates 55 A320 and A321 aircraft with more than 385 flights daily, carrying more than 55 million passengers to date on 82 routes covering destinations in Vietnam as well as international destinations such as Hong Kong, Singapore, South Korea, Taiwan, China, Thailand, Indonesia, Myanmar, Malaysia, and Cambodia.

It plans to expand its network across the Asia-Pacific region and is continuing to expand its regional network. It has recently signed contracts to purchase new aircraft from the world’s leading aircraft manufacturers.

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