Rubber Group (GVR) to pay dividend in cash

The Viet 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 VND250.

 

With four billion shares in circulation, the group expects to spend VND1 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 VND1.3 trillion in post-tax profit, of which GVR will distribute VND1 trillion to pay dividends,.

Regarding the 2019 plan, the group plans to achieve revenue of VND24.2 trillion and after-tax profit of VND4.1 trillion.

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

GVR closed Wednesday down 1.4 per cent to end at VND13,600 per share, equivalent to market capitalisation of VND54.4 trillion.

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

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