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ITC: Information on the remaining dividend of 2009
According to the resolution of the annual general meeting dated June 25, 2010, the dividend of Investment & Trading of Real Estate Joint Stock Company (INTRESCO) for the year 2009 was 20% of VND230-billion charter capital. The Company paid 10%/par value in advance on December 17, 2010, so the remaining is 10%/par value, equivalent to VND23,028,896,000.
However, INTRESCO completed a share bonus issue at a rate of 1:1 and a share issue at a rate of 1:1 to increase the charter capital to VND690,086,688,000, and listed the new shares. Because dividend will be deducted from the reference price on the ex-right date, to ensure shareholders’ benefit, the Company will pay dividend on new charter capital (VND690 billon). That means dividend rate will be decreased to 3.3333% because the financial resource is not enough.
Besides, because the trading system does not implement any odd payment rate, the final payment rate INTRESCO will pay to shareholders will be 3% (VND300/share). The remaining money because of the adjustment to the dividend payment will be added to INTRESCO’s retained profit.
INTRESCO will close shareholders’ list to pay the remaining dividend for 2009 after the State Securities Commission and the Hochiminh Stock Exchange approve this adjustment.
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