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Vietjet to pay 60% dividend for this year

Released at: 18:06, 29/11/2017 BUSINESS SPOTLIGHT

Vietjet to pay 60% dividend for this year

Photo: Vietjet Air

Carrier now seeking shareholders' opinions on dividend payment.

by Tue Lam

Budget carrier Vietjet Air (HoSE: VJC) is collecting shareholders’ opinions on increasing the estimated 2017 dividend payout from 50 per cent to 60 per cent, including a maximum of 40 per cent cash dividend.

If approved, the estimated 2017 dividend payout ratio will be 60 per cent, with the cash dividend rising from 30 per cent to 40 per cent. The purpose of collecting shareholders’ opinions is to make the necessary arrangements for the advanced second dividend payment in 2017.

Vietjet is also seeking shareholders’ opinions on a change of business line and the address of its headquarters to 302/3 Kim Ma Street, Ba Dinh District, Hanoi. The close of registrations for shareholders to submit opinions is December 19.

In mid-August, Vietjet advanced VND645 billion ($28.3 million) for a 20 per cent cash dividend payment in 2017. Prior to that, it also paid a 40 per cent bonus share dividend and finalized the 2016 cash and bonus share dividend payment at a rate of 119 per cent.

Vietjet is the first airline in Vietnam to operate under the new low-cost model and provides a wide range of services to customers through advanced e-commerce technology applications.

Vietjet is an official member of the International Air Transport Association (IATA) and has IATA Operational Safety Audit (IOSA) certification. In addition to being named among the “Top 500 Leading Brands in Asia 2016” and the “Best Employer Brand” in Asia for many consecutive years, Vietjet was also voted “Best Asian Low Cost Carrier in 2015” at the TTG Travel Awards and is among the Top 3 growing carriers on Facebook, as voted by Socialbakers.

Vietjet is now operating 45 A320 and A321 aircraft, conducting about 350 flights a day and carrying some 40 million passengers on 73 routes to destinations in Vietnam and to Hong Kong, Singapore, South Korea, Taiwan, China, Thailand, Indonesia, Myanmar, Malaysia, and Cambodia.

The airline plans to expand its Asia-Pacific network and purchase modern aircraft from leading manufacturers.

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