Vietjet plans to pay a dividend of 60% for its US$231 million profits
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Vietjet today announced its plan to pay a dividend of 60% 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% and 103% 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% and 103.3% year-on-year. Earnings per share (EPS) stood at VND11,356 (US$0.52), an increase of 73% 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% to 60% due to its positive business results. Vietjet advanced the 2017 cash dividend payment at the rate of 30% and plans to pay the remaining 30% dividend in shares. With the higher profits and cash reserves, the Board of Directors expects to submit the proposal for the payment of 10% cash dividend and 20% share dividend in the coming Shareholder Annual Meeting. Vietjet has built a reputation for consistently making high dividend payments to its shareholders.
Questions & Answers
Q.What was Vietjet's total net revenue for the 2017 financial year?
What was Vietjet's total net revenue for the 2017 financial year?
Vietjet's net revenue for 2017 stood at nearly VND42,303 billion, which converts to US$1.92 billion. These figures exceeded the airline's targets for the year.
Q.How much of the 2017 dividend has already been paid out to shareholders?
How much of the 2017 dividend has already been paid out to shareholders?
Vietjet has already advanced a 2017 cash dividend payment at a rate of 30%. The company plans to pay the remaining 30% dividend in shares.
Q.What is the total value of the unallocated profit Vietjet held at the end of 2017?
What is the total value of the unallocated profit Vietjet held at the end of 2017?
As of December 31, 2017, Vietjet's unallocated profit amounted to VND5,809 billion. This figure is equivalent to approximately US$264 million.