Business

Gemadept to pay 80 percent dividend

Gemadept Corporation – a logistics firm - plans to make an 80 percent dividend payout rate, equal to 8,000 VND (35 US cents) per share, if its plan gets approved by the HCM Stock Exchange on February 26.
Gemadept to pay 80 percent dividend ảnh 1Logistics firm Gemadept Corporation plans to make an 80 per cent dividend payout rate. (Photo: cafef.vn)

Hanoi (VNA) - GemadeptCorporation – a logistics firm - plans to make an 80 percent dividend payoutrate, equal to 8,000 VND (35 US cents) per share, if its plan gets approved bythe HCM Stock Exchange on February 26.

Gemadept Corp general director Do VanMinh told local media that the dividend payout rate included a 15 percent ratethat was approved by the company shareholders at its general meeting in 2017.

The remaining part of the dividendpayout rate is 65 percent, which was generated from Gemadept’s selling of itsstake in its two subsidiaries – Gemadept Shipping Holding Co LTd and GemadeptLogistics Holding Co Ltd – to the Korean business CJ Logistics, Minh said.

The Gemadept Corporation had previouslyoffloaded half of its ownership in those two sub-units to CJ Logistics HongKong, holding 51 percent in the former company and 49.1 percent in the latterone.

The two sub-units were re-named toCJ-Gemadept Shipping Holdings Co Ltd and CJ-Gemadept Logistics Holdings Co Ltd.

The Gemadept Corporation is listed onthe HCM Stock Exchange with code GMD, having increased by total 10.3 percentsince February 8 to close February 23 at 42,800 VND per share.-VNA
VNA
#Gemadept Corporation #make an 80 percent dividend payout rate #HCM Stock Exchange #Gemadept Shipping Holding Co LTd #Gemadept Logistics Holding Co Ltd #Korean business CJ Logistics #Vietnam News Agency #Vietnamplus
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