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Vietjet plans to pay a dividend of 60% for its $231 million profits

Vietjet plans to pay a dividend of 60% for its $231 million profits

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, 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.