Thien Long Group (TLG) held its 2017 annual shareholders’ meeting yesterday, announcing a 15 per cent residue dividend from 2016 would be dispersed this year.

The company’s dividend for 2017 would amount to 20 per cent of total earnings, while in 2016 the figure was 30 per cent in cash. Fifteen per cent were paid last year, leaving the rest to be paid in July 2017.

TLG also reported its business plan this year to include an expected revenue of VND2.45 trillion ($109.5 million), post tax income of VND265 billion ($11.84 million), up by 13 and 10 per cent compared to 2016, respectively.

The board approved TLG’s plan to issue more than 11.4 million shares with a 10:3 ratio to increase charter capital from VND383 billion to VND498 billion ($17.11 million to $22.25 million) in the third quarter of 2017.

This year meeting also announced TLG’s plan to increase foreign investors’ percentage of ownership from 49 per cent to 100 per cent. — VNS