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Vietjet to pay additional 20% dividend

Released at: 19:45, 25/06/2018 BUSINESS SPOTLIGHT

Vietjet to pay additional 20% dividend

Photo: Vietjet

20% on top of approved 2017 dividend of 60%.

by Ngoc Lan

Vietjet Air plans to pay an additional 2017 dividend of 20 per cent of charter capital, according to its latest report.

The registration date is July 2, corresponding to an ex-rights date of June 29.

After this payment, Vietjet will then pay the previously-approved 2017 dividend to shareholders of 60 per cent, of which 40 per cent is in cash.

Vietjet has regularly paid high dividends over the years, at time at more than 100 per cent. It has approved a 2018 dividend of 50 per cent.

The Petro Trading JSC (Petechim) recently registered to buy 100,000 Vietjet shares after buying all 150,000 shares registered in the session previous.

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.

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.

For the second consecutive year it was honored in Nhip cau Dau tu magazine’s “Vietnam’s 50 Best-Performing Companies 2017” awards and is a member of the “Billion-Dollar Club” of companies that have market capitalization in excess of $1 billion.

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