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

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