Hòa Phát to maintain dividend rate

Thursday, Mar 17, 2016 18:03

A Hòa Phát worker checks the quality of construction steel. The company projects an after-tax profit of $142 million this year. — Photo ndh.vn

HÀ NỘI (Biz Hub) — Steelmaker Hòa Phát Group plans to keep its dividend rate intact at 30 per cent, while maintaining an after-tax profit of VNĐ3.2 trillion (US$142.2 million) on a revenue of VNĐ28 trillion in 2016.

The Hòa Phát management board said in a resolution on Monday that the company would present the business targets at a shareholders' meeting, which would be held at its headquarters in Hà Nội on March 31.

The company is expected to pay last year's dividend half in cash and half in shares in the second quarter of this year.

Earlier this year, the firm posted a total revenue of VNĐ28 trillion and a pre-tax profit of VNĐ3.5 trillion for 2015, both rising by more than 7 per cent from 2014's figures.

The resolution said the company was expected to reach a charter capital of about VNĐ8.4 trillion on December 31, 2016, without mentioning the current level.

Today, the company's shares closed with little change at VNĐ30,000 per share on the HCM Stock Exchange. — VNS

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