Vietnam Airlines raises dividend rate for shareholders

Friday, May 11, 2018 09:42

Shareholders of Vietnam Airlines vote to pass main contents, such as the report on business results in 2017 and the main targets of the production plan business in 2018. — Photo VNA

Vietnam Airlines Corporation will pay dividends to its shareholders at eight per cent—two per cent higher than the previous year—after it achieved impressive results in 2017.

This was announced at the shareholders’ meeting held in Ha Noi on Thursday.

The corporation said the ratio was in line with the business results of the year and the State’s regulations, ensuring the balance of cash flow and financial balance for business and production operations as well as the ability to pay a stable dividend for 2018 and coming years.

In 2017, Vietnam Airlines was recognised as having the best financial market index. According to the valuation of Brand Finance (an independent business valuation consultancy firm), the corporation’s brand value was estimated at US$310 million, up by more than 60 per cent over 2016.

Last year, the corporation completed its plan targets and achieved business results in excess of the plan compared to 2016.

It ran 140,000 safe flights with more than 22 million passengers. It also made a consolidated pre-tax profit of over VND3.1 trillion, surpassing 92.6 per cent of the plan, of which parent company Vietnam Airlines JSC’s pre-tax profit was over VND1.9 trillion, exceeding the plan by 52 per cent.

At the meeting, shareholders of Vietnam Airlines discussed and voted to pass main contents, such as the report on business results in 2017 and the main targets of the production plan business in 2018. They also approved audited financial statements for 2017 and a profit distribution plan as well as selected auditors for financial reports for the 2019-21 period.

As for the business plan in 2018 approved by the shareholders, Vietnam Airlines strives to reach the target of flying more than 24.3 million passengers, marking a consolidated turnover of over VND97 trillion, of which the parent company reaches nearly VND73.5 trillion, and a consolidated pre-tax profit of over VND2.4 trillion, of which the parent company gains more than VND1.95 trillion. — VNS

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