Petrolimex to spend 94% profit on dividends
Petrolimex to spend 94% profit on dividends
The Viet Nam National Petroleum Group (Petrolimex) will close the list of shareholders on June 15 to pay dividends for 2017 at the rate of 20 per cent.
 In 2018, Petrolimex targets a net revenue of over VND5.53 trillion, a year-on-year increase of 10 per cent. — Photo moit.gov.vn
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This is equivalent to VND2,000 (8 US cents) per share.
The payment is due on June 29, 2018.
Petrolimex will spend some VND162 billion ($7 million) to pay dividends to shareholders.
The group decided to pay cash dividends at the rate of 20 per cent, equivalent to some 94 per cent of total after-tax profit to distribute among shareholders.
Last year, Petrolimex recorded more than VND5.046 trillion in net revenue and VND171.4 billion in after-tax profit.
In 2018, the group targets a net revenue of over VND5.53 trillion, a year-on-year increase of 10 per cent. The after-tax profit is expected at VND189.45 billion, up by 11 per cent compared to 2017.
The group will also try to spend at least 80 per cent of the entire year’s after-tax profit to pay dividends to shareholders. — VNS
