Profitable firms to pay cash dividends

Friday, Jul 12, 2013 10:42

 Illusatrative image.—Photo baodautu

HA NOI (Biz Hub)— Eleven companies have announced their cash dividend payouts this month, a move to boost investor psychology given the current downturn on the stock market.

The firms, which have all announced profits, include the Global Electrical Technology Corporation (GLT). The firm is a top payer with a cash rate of up to 50 per cent, paid on July 31 in the second phase of the company's dividend payout for the year 2012 of a total 65 per cent. Last year, GTL paid 15 per cent.

Nghe An Bus Station Co (NBS) and Development Investment Construction Hoi An Corp (DIH) followed with a rate of 30 per cent and 25 per cent, respectively. Payouts will be made in August.

Three companies decided to a pay cash rate of 15-17 per cent, including Thac Ba Hydro-power Co (TBC), Thac Mo Hydro-power Co (TMP) and Southern Industry Corp (CSM), of which CSM will pay another 15 per cent in the form of stocks.

Others will pay from 5 per cent to 10 per cent, including Viet Thang Feed (VTF), Sieu Thanh Corp (ST8), Bien Hoa Packaging (SVI), Mekong Fisheries (AAM) and SMC Investment Trading Co (SMC).

Payouts will be made from this month to September.

All dividend payers are profitable, of which the two hydro-power companies Thac Bac (TBC) and Thac Mo (TMP) were the biggest gainers with each reporting a net profit of over VND146 billion (US$7 million) and VND128 billion ($6 million) last year, respectively. — VNS

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