Vingroup to pay shares for 2017 dividend

Property developer Vingroup plans to issue nearly 554 million shares to pay a 21 per cent dividend to shareholders for 2017.— Photo cafef.vn

HÀ NỘI — Property developer Vingroup plans to issue nearly 554 million shares to pay a 21 per cent dividend to shareholders for 2017.

The share issuance is scheduled for the second or third quarters of 2018.

Funding for the shares will be drawn from the firm’s accumulated post-tax profit recorded in the 2017 financial year.

Vingroup recorded VNĐ89.3 trillion (US$4 billion) in total revenue and VNĐ5.65 trillion in post-tax profit in 2017, up 55 per cent and 27 per cent on-year, respectively.

Vingroup will increase its charter capital to VNĐ31.9 trillion from the current VNĐ26.37 trillion after the share issuance.

In the first quarter of 2018, Vingroup posted VNĐ29 trillion in revenue and VNĐ1 trillion in net profit, yearly increases of 84 per cent and 70 per cent.

For 2018, the company has set a target of VNĐ120 trillion in net revenue, up 34 per cent from last year, and VNĐ8.5 trillion in net profit, up 50 per cent.

Vingroup has more than 2.63 billion shares on the HCM Stock Exchange under the code VIC, which ended Friday at VNĐ122,800 per share. — VNS

Tags Vietnam Vingroup dividend Vietnam News share issuance capital increase news

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