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Vietjet to pay 10% in third 2017 dividend

Released at: 18:54, 26/04/2018 BUSINESS SPOTLIGHT

Vietjet to pay 10% in third 2017 dividend

Photo: Vietjet

Board approves payment on April 23.

by Ngoc Lan

A resolution from the Board at Vietjet Air (HSX: VJC) on April 23 approved the third dividend payment for 2017 at a rate of 10 per cent.

Dividends will be paid to shareholders on May 25. With charter capital of more than VND4.513 trillion ($200.5 million), Vietjet will outlay over VND451 billion ($20 million) from after-tax profits to pay the dividends.

The carrier announced that net revenue in 2017 stood at VND42.3 trillion ($1.8 billion). After-tax profit for the parent company’s shareholders reached VND5.074 trillion ($225 million), an increase of 150 per cent compared to the 2017 plan and up 103 per cent against 2016.

Profit for shareholders of the parent company was VND5.073 trillion ($225.4 million). Earnings-per-share (EPS) stood at VND11,356 ($0.5)

The 2017 dividend passed at the annual shareholders' meeting last year was 50 per cent. As a result of good business results, the Board approved an increase in dividends from this 50 per cent to 60 per cent.

The company has advanced its dividend payment of 30 per cent in cash and was expected to pay the remaining 30 per cent in shares. However, with the abovementioned profit and abundant cash, the Board has decided to continue to pay dividends in cash at a rate of 10 per cent.

In the three dividend payments for 2017, Vietjet has paid 40 per cent in cash and is expected to pay 20 per cent in shares after the shareholder’s meeting officially approves the resolution. It has regularly paid dividends to shareholders at high rates, at times over 100 per cent.


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