CMC to pay shareholders 77 per cent of profits

Brick producer CMC Joint Stock Company (CVT) spent 77 per cent of its total 2015 profits on dividends distributed to shareholders.— Photo cafef.vn

HÀ NỘI — Brick producer CMC Joint Stock Company (CVT) spent 77 per cent of its total 2015 profits on dividends distributed to shareholders.

Accordingly, CMC will pay VNĐ48 billion (US$2.2 million), or 25 per cent of the cash dividend in 2015.

Thanks to the stable construction market, the company’s revenues reached nearly VNĐ722 billion, up VNĐ100 billion over 2014. It also earned profit after tax of VNĐ62.6 billion, up 23 per cent compared to 2014.

As the firm’s largest shareholder, Việt Nam Cement Industry (Vicem), which owns 9.04 per cent of its charter capital, will receive VNĐ4.34 billion, while Nguyễn Quang Huy, board chairman of the firm and the second-largest shareholder will receive VNĐ2.5 billion for his holding of one billion shares.

Based in northern Phú Thọ Province, CMC is one of the largest brick producers in Việt Nam. — VNS

Tags Vietnam share brick CMC

Việt Nam needs development of green products exported to UK

Economy

UK’s carbon tax to affect VN exports

Economy

Việt Nam expects to officially export passion fruit to the US next year

Economy

VN faced with increasing trade defence investigations on rising protectionism

Economy

Experts point out economic growth drivers, challenges for next year

Economy

Thái Nguyên supports businesses to take advantage of UKVFTA to expand exports to UK

More on this story

Economy

HCM City smashes tax targets

HCM City has asked the Government for a bonus of VNĐ10 trillion (US$450 million) for exceeding its tax revenue target last year.

Economy

VN top productivity growth in ASEAN

Vietnamese workers have substantially improved their productivity levels in the last 15 years, according to ICAEW’s latest ‘Economic Insight: South East Asia’ event launched in Hà Nội last Friday.

Economy

MoF to accelerate SOE equitisation

The Ministry of Finance has planned to boost the equitisation of State-owned enterprises (SOEs) through rating the publicity and transparency of the enterprises’ financial statements, a finance ministry official said.

Economy

Trouble for non-fired brick firms

The demand for construction materials in the country is estimated to touch 30 to 33 billion bricks by 2020. Non-fired materials will account for 30 to 40 per cent of these bricks.

Economy

Banks face off with Gov’t on cash dividends

On May 30 the media carried the Ministry of Finance’s request to the central bank governor, Lê Minh Hưng, to instruct major State-owned lenders BIDV and Vietinbank to pay the 2015 dividends in cash.

Economy

VN can improve flower exports

With vast areas suitable for growing flowers, Việt Nam has the potential to become one of the world’s largest flower exporters, according to experts.

Economy

VN-Index said to soar this week

Experts from most securities companies expect the VN-Index to hit a two-year peak level of 640 this week.

Economy

May car sales top last year’s by 45 per cent

The Vietnamese bought over 26,000 cars in May, a 45 per cent increase compared with the same period last year, a report from the Việt Nam Automobile Manufacturers' Association noted.