PVTrans is about to pay a total dividend of 19%, the highest ever
VietReader 2-10-2020, 23:27

PVTrans is about to pay a total dividend of 19%, the highest ever

In 2019 PVTrans plans to pay shareholders 4% cash dividend and 15% stock dividend. According to the company’s representative, this is the highest dividend payment ever.

The Board of PetroVietnam Transportation Corporation (PVTrans – Code: PVT) has just announced the payment of 2019 dividends with a total rate of 19% according to the resolution of the Annual General Meeting of Shareholders in 2020.

In which, the company plans to pay 4% cash dividend and 15% share dividend. Thus, with more than 281.4 million shares outstanding, the company plans to spend nearly 113 billion in cash and issue more than 42.2 million shares to pay dividends to shareholders. Post-issuance chartered capital is expected to increase to nearly 3237 billion dong.

At the last Annual General Meeting of Shareholders, the representative of PVTrans said that from 2014 until now, the company has almost all divided by cash with an average dividend of 10% of charter capital /year, only in 2015 dividend in shares.

“This year, the company pays a 15% share dividend with the goal of increasing charter capital and adding investment and development funds to ensure long-term strategy and cash flow in 2019 , remaining profit. The company pays 4% cash dividend to shareholders. Thus, 2019 is the year PVTrans pays the highest dividend rate ever.

In 2020 PVTrans plans to do business quite cautiously with planned revenue of 6200 billion VND, down 23%; Profit after tax is expected to be 433 billion VND, down 46% compared to the year 2019.

Recently, the company has just updated its business results for the first 9 months of the year with revenue estimated at VND 5345 billion, equivalent to 113% of the 9-month plan and 86% of the year plan. Profit before tax is estimated at VND565 billion, equivalent to 128% of the 9-month plan and 3% higher than the year plan.

Compared to the first 9 months of 2019 revenue and profit in the first 9 months of this year decreased by 8% and 21% compared to the same period last year. The company plans to contribute to the state budget estimated at 284 billion dong, equivalent to 136% of the 9-month plan and 4% higher than the annual plan.

In the last quarter of the year, PVTrans focuses on promptly transporting input raw materials and output products to Dung Quat oil refinery after maintenance, reducing operating costs, setting fleet efficiency plans.

PVTrans’ final three-month revenue plan is 1483 billion dong, pre-tax profit is 107 billion dong.

Source: vietnambiz.vn – Translated by fintel.vn