Vietjet plans to pay a dividend of 60 percent
Vietjet today announced its plan to pay a dividend of 60 percent of its 2017 profits after posting positive business results for the year. According to the audited and consolidated financial statements released by Vietjet Aviation Joint Stock Company (HOSE: VJC), the airline’s after-tax profit stood at VND5,074 billion (US$230.63 million).
The airline’s net revenue stood at nearly VND42,303 billion (US$1.92 billion). After-tax profit of Vietjet in 2017 stood at VND5,074 billion (US$230.63 million). These figures have exceeded the airline’s targets for 2017 respectively by 150 percent and 103 percent year-on-year.
Profit attributable to shareholders of the parent company increased to VND5,073 billion (US$230.59 million), exceeding the company’s targets for 2017 by 150 percent and 103.3 percent year-on-year. Earnings per share (EPS) stood at VND11,356 (US$0.52), an increase of 73 percent year-on-year.
Vietjet’s unallocated profit up to December 31, 2017 was VND5,809 billion (US$264 million). Before that, the company raised its 2017 dividend payout from 50 percent to 60 percent due to its positive business results. Vietjet advanced the 2017 cash dividend payment at the rate of 30 percent and plans to pay the remaining 30 percent dividend in shares. With the higher profits and cash reserves, the Board of Directors expects to submit the proposal for the payment of 10 percent cash dividend and 20 percent share dividend in the coming Shareholder Annual Meeting. Vietjet has built a reputation for consistently making high dividend payments to its shareholders.