Sunday, August 25 2019

VietNamNews

Rubber Group to pay dividend in cash

Update: July, 17/2019 - 17:52

 

GVR changed itself into a joint stock company from June 2018. — VNS Photo

 

HÀ NỘI — The Việt Nam Rubber Industry Group JSC (GVR) has approved a plan to pay cash dividend for 2018 at the rate of 2.5 per cent, meaning an investor owning one share will receive VNĐ250.

With four billion shares in circulation, the group expects to spend VNĐ1 trillion (US$43 million) on the payout, with the payment expected on August 26.

GVR changed itself into a joint stock company in June 2018. In the last seven months of 2018, the company recorded VNĐ1.3 trillion in post-tax profit, of which GVR will distribute VNĐ1 trillion to pay dividends,.

Regarding the 2019 plan, the group plans to achieve revenue of VNĐ24.2 trillion and after-tax profit of VNĐ4.1 trillion.

The group also hopes to shift the listing from the Unlisted Public Company Market (UPCoM) to the Hồ Chí Minh City Stock Exchange (HoSE) in the third quarter.

GVR closed Wednesday down 1.4 per cent to end at VNĐ13,600 per share, equivalent to market capitalisation of VNĐ54.4 trillion.

Currently, the State still holds more than 3.87 billion shares, equivalent to nearly 97 per cent of the group’s capital. — VNS

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