Vietnam Airline (HVN)s to pay $63.9 million cash dividend
Vietnam Airline (HVN)s to pay $63.9 million cash dividend
National flag carrier Vietnam Airlines, listed under code HVN, plans to pay cash dividends for 2018 at the rate of 10 per cent of charter capital, estimated at VND1.49 trillion (US$63.9 million).
The State, which owns 86 per cent of the firm's capital, will receive about VND1.22 trillion. Major shareholder ANA Holdings Inc. of Japan, which holds 8.8 per cent, will get VND124 billion.
Vietnam Airlines said it conducted 141,300 flights in 2018, transporting 21.9 million passengers and making consolidated revenue of nearly VND99 trillion and consolidated after-tax profit of VND2.6 trillion, exceeding its plan for the year by 36 per cent.
Vietnam Airlines set a target this year to achieve consolidated revenue of nearly VND111.7 trillion, up 13 per cent year on year, and consolidated after-tax profit of nearly VND2.7 trillion, up 6 per cent. The total investment cost is expected to be over VND5.4 trillion.
The carrier set a target to occupy a minimum of 55 per cent of the domestic aviation market and a strong market share in the international market, ensuring balance between growth, market share and efficiency.
Fleet development
According to the carrier's fleet development plan for 2021 to 2025, Vietnam Airlines will own an estimated fleet of 135-177 planes. Its narrow-body fleet will make up 95-120 of the units. It currently has 63 narrow-body aircraft.
The annual pre-tax profit of the entire network in the 2021-25 period is expected to be between VND2.2 trillion and VND3.6 trillion per year, of which the air transport profit from the narrow-body fleet will contribute between VND359 billion and VND1.4 trillion.
On May 7, Vietnam Airlines will list 1.4 billion shares on the Ho Chi Minh Stock Exchange, moving from the UpCom. The reference price in the first trading session will be VND40,600 per share; the first day fluctuation range is ± 20 per cent.
