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.
Logistics firm Gemadept Corporation plans to make an 80 per cent dividend payout rate. (Photo: cafef.vn)Hanoi (VNA) - 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 Corp general director Do Van Minh told local media that the dividend payout rate included a 15 percent rate that was approved by the company shareholders at its general meeting in 2017.
The remaining part of the dividend payout rate is 65 percent, which was generated from Gemadept’s selling of its stake in its two subsidiaries – Gemadept Shipping Holding Co LTd and Gemadept Logistics Holding Co Ltd – to the Korean business CJ Logistics, Minh said.
The Gemadept Corporation had previously offloaded half of its ownership in those two sub-units to CJ Logistics Hong Kong, holding 51 percent in the former company and 49.1 percent in the latter one.
The two sub-units were re-named to CJ-Gemadept Shipping Holdings Co Ltd and CJ-Gemadept Logistics Holdings Co Ltd.
The Gemadept Corporation is listed on the HCM Stock Exchange with code GMD, having increased by total 10.3 percent since February 8 to close February 23 at 42,800 VND per share.-VNA
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