GAS announces 30 percent cash dividend for 2020
GAS announces 30 percent cash dividend for 2020
Petrovietnam Gas has earmarked VND5.74 trillion ($248 million) from its 2020 profits to pay a 30-percent dividend to its shareholders.
A gas rig off the coast of Vietnam. Photo courtesy of Petrovietnam Gas.
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Its parent company, Petrovietnam, which owns a 95.76 percent stake in it, will receive VND5.4 trillion.
GAS eyes revenue growth of 7 percent this year to VND70.17 trillion though profits are expected to fall 12 percent to VND7 trillion.
The Covid-19 pandemic and fuel price volatility are going to be the main challenges this year, CEO Duong Manh Son said.
The falling output in its gas fields and rising maintenance costs also affect the results, he added.
GAS is the 10th biggest listed company in terms of market capitalization. Its stock has gained nearly 8 percent this year while the benchmark VN-Index has risen by 22 percent.
