National flag carrier Vietnam Airlines owns more than 55 per cent stake in Noi Bai Cargo which annouces to pay 40 per cent of cash dividend on October 3. – Photo vfpress.vn

HA NOI (Biz Hub) — Noi Bai Cargo Terminal Service Joint Stock Company (NCT) has announced it will pay 40 per cent of cash dividend on October 3.

Shareholders will receive VND4,000 (US$0.18) per share, while the cargo firm will pay a total of VND105 billion as dividend.

The firm made VND142 billion as after-tax profit in the first half of the year, down 21 per cent year-on-year, but still achieved 53 per cent of its profit target for the whole year. 

The firm listed on the HCM Stock Exchange last year with charter capital of VND249.2 billion. Currently, it has more than 26 million shares on the exchange.

At present, national flag carrier Vietnam Airlines owns more than 55 per cent stake in Noi Bai Cargo. Another large shareholder is Noi Bai Airport Services with a 6.98 per cent stake.

According to a local investor, Noibai Cargo is one of the businesses with the highest annual dividend in the market. Last year, it paid a total dividend of 110 per cent.  Earlier, at the 2016 annual shareholders meeting, the company said it expected difficulties this year, setting revenue and profit targets lower than 2015, with a projected annual dividend of 106 per cent.

In 2011, Noi Bai Cargo paid dividend at 138 per cent, raising it to 160 per cent in 2012 and 163 per cent in 2013.

On September 19, each NTC share rose more than 1 per cent to reach VND100,000 on the HCM Stock Exchange. — VNS