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Firms to pay $318m in dividends in Q1
Many listed companies have announced they will pay cash dividends in the first quarter of this year, with the total amount estimated at around VND6.2 trillion (US$317.9 million).
Among enterprises that have already finalised lists of shareholders to participate in dividend payouts, the total has already exceeded VND5.2 trillion ($266.7 million).
Vietinbank (CTG) and Eximbank (EIB) are the top dividend payers, with CTG to pay out a cash dividend totalling VND2 trillion ($102.6 million) and EIB a dividend worth over VND1.26 trillion ($65 million). Financial conglomerate Ocean Group (OGC), meanwhile, is readying a dividend of VND250 billion ($12.8 million).
Besides banks, real estate companies are also ponying up a lot to pay dividends to shareholders in the first quarter, although no single company will pay more than VND100 billion ($5.1 million). Among the firms in the sector paying a dividend are Development Investment Construction Corporation (DIG), Tu Liem Urban Development Company (NTL) and HCM City Infrastructure Investment Company (CII).
Banks and real estate developers tended to pay high cash dividends because their return-on-equity (ROE) ratios were higher than in other sectors, said Au Viet Securities Company Deputy Director Le Anh Thi.
"Meanwhile, the business results of many enterprises were negatively affected by high interest rates last year, and these firms will likely retain earnings to invest in business operations this year, rather than paying cash dividends," Thi said.
This month, many companies will review their 2010 business results, and more are likely to announce dividend plans.
Some other companies have already decided to pay a cash dividend during this quarter but have not yet concluded their shareholder lists, including PetroVietnam Drilling (PVD), Refrigeration Electrical Engineering Corporation (REE), and Becamex Infrastructure Development Company (IJC).
Commenting on whether dividend capital was likely to be reinvested in the stock market, Thi said there were no clear signs that would happen, but he expressed hopes that foreign investment flows would increase after the conclusion of the Party Congress, when economic conditions would become more stable.
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