Vietnam Airlines to pay 64 million USD in cash dividend
National flag carrier Vietnam Airlines, listed under code HVN, plans to pay cash dividends for 2018 at the rate of 10 percent of charter capital, estimated at 1.49 trillion VND (64 million USD).
Vietnam Airlines is set to pay a 2018 cash dividend worth 63.9 million USD. (Source: Vietnam Airlines)Hanoi (VNA) - National flag carrier Vietnam Airlines, listed under code HVN, plans to pay cash dividends for 2018 at the rate of 10 percent of charter capital, estimated at 1.49 trillion VND (around 64 million USD).
The State, which owns 86 percent of the firm's capital, will receive about 1.22 trillion VND (52.5 million USD). Major shareholder ANA Holdings Inc. of Japan, which holds 8.8 percent, will get 124 billion VND (5.3 million USD).
Vietnam Airlines said it conducted 141,300 flights in 2018, transporting 21.9 million passengers and making consolidated revenue of nearly 99 trillion VND (4.25 billion USD) and consolidated after-tax profit of 2.6 trillion (111.8 million USD), exceeding its plan for the year by 36 percent.
Vietnam Airlines set a target this year to achieve consolidated revenue of nearly 111.7 trillion VND (4.8 billion USD), up 13 percent year on year, and consolidated after-tax profit of nearly 2.7 trillion VND (116.05 million USD), up 6 percent. The total investment cost is expected to be over 5.4 trillion VND (232.11 million USD).
The carrier set a target to occupy a minimum of 55 percent of the domestic aviation market and a strong market share in the international market, ensuring balance between growth, market share and efficiency.
According to the carrier's fleet development plan for 2021-2025, Vietnam Airlines will own an estimated fleet of 135-177 planes. Its narrow-body fleet will make up 95-120 of the units. It currently has 63 narrow-body aircraft.
The annual pre-tax profit of the entire network in the 2021-2025 period is expected to be between 2.2 trillion VND (94.6 million USD) and 3.6 trillion VND (154.7 million USD) per year, of which the air transport profit from the narrow-body fleet will contribute between 359 billion VND (15.4 million USD) and 1.4 trillion VND (60.1 million USD).
On May 7, Vietnam Airlines officially listed 1.4 billion shares on the Ho Chi Minh Stock Exchange, moving from the UpCom. The reference price in the first trading session was 40,600 VND (1.75 USD) per share; the first day fluctuation range was ± 20 percent.-VNA
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