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Vietjet advances second 2018 dividend payment of 10%

Released at: 13:35, 09/04/2019

Vietjet advances second 2018 dividend payment of 10%

Photo: Vietjet

New-age carrier to outlay $23.3 million on second dividend payment of 2018.

by Ngoc Lan

Vietjet Air’s Board of Directors (HoSE code: VJC) announced on April 8 it will advance a 10 per cent (VND1,000 ($0.04) per share) cash dividend payment to shareholders.

Shareholders will receive a cash dividend totaling 30 per cent in fiscal year 2018, with the company paying shareholders nearly VND1.625 trillion ($70 million) in total. The final registration date is April 24, while the ex-right date is April 23.

Consequently, Vietjet will pay more than VND542 billion ($23.3 million) to advance this second dividend payment of 2018.

According to the resolution at the annual shareholders meeting in 2018, the planned dividend payout ratio is 50 per cent in both shares and cash. Thanks to its high and continuous growth and abundant cash resources, the Board of Directors at the new-age airline submitted to its shareholders a 2018 dividend payment at a rate of 55 per cent; higher than the previously approved plan.

Vietjet has established a good track record of paying high dividends, from 50 per cent to 70 per cent in both cash and shares. With its 2019 business plan, it’s believed that the Board of Directors will continue to submit a high dividend payout ratio at the upcoming annual general meeting of shareholders.

Vietjet is the first airline in Vietnam to operate as a new-age airline, offering flexible, cost-saving ticket fares and diversified services to meet customer demand.

It provides not only transport services but also uses the latest e-commerce technologies to offer various products and services for consumers. Its technical reliability rate is 99.64 per cent - the highest in the Asia-Pacific region. As a fully-fledged member of the International Air Transport Association (IATA), Vietjet has obtained IATA Operational Safety Audit (IOSA) certification and been awarded a seven-star ranking, the world’s highest for safety, from AirlineRatings.

Vietjet currently operates around 400 flights daily, carrying more than 70 million passengers to date on 113 routes covering destinations across Vietnam and internationally such as Japan, Hong Kong, Singapore, South Korea, Taiwan, Mainland China, Thailand, Myanmar, Malaysia and Cambodia.

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