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STC: Results of annual general meeting of shareholders 2011
Book and Educational Equipment Joint Stock Company (HNX: STC) in Ho Chi Minh City has disclosed the results of its annual general meeting of shareholders held on 28/03/2011.The following resolutions were approved:
1. Approving Operating Results of 2010:
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Items
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Unit
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Realized in 2010
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Revenue
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VND
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196,480,342,712
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Profit before tax
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VND
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11,754,869,261
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Income tax payable
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VND
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1,645,302,025
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2. Approving Setting up Funds in 2010:
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Items
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Unit
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Realized in 2010
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* Exempted income tax used to supplement the Investment and Development Fund
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VND
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1,323,301,219
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* Profit after tax used for setting up Funds
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VND
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9,176,214,602
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+ Retained earning of 2009
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VND
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511,799,473
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+ Retained earning of 2010
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VND
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8,664,415,129
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Setting up Funds:
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- Fund for capital supplement (5%)
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VND
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433,220,756
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- Financial Reserve Fund (5%)
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VND
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433,220,756
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- Bonus and Welfare Fund (10%)
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VND
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866,441,514
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- Fund for Management Board (5%)
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VND
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433,220,756
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- Dividend payment (for 5,381,030 shares)
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VND
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6,995,339,000
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+ Retained earnings of 2010 (74.83%)
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VND
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6,483,539,527
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+ Retained earnings from previous years
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VND
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511,799,473
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- Retained earnings (0.17%)
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VND
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14,771,820
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3. Approving Dividend payout ratio: 13% of par value (Shareholders receive VND 1,300 for every share they own).
4. Approving Remuneration for the BOD, Supervisory Board and Secretaries in 2010:
- For the BOD: VND 222,300,000
- For Supervisory Board: VND 81,000,000
- For Company’s Secretary: VND 56,700,000
5. Approving Operating Plan for 2011:
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Items
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Unit
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Plan 2011
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Revenue
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VND billion
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200.00
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Profit
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VND billion
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12.80
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Dividend payment
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%
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13
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6. Approving Remuneration for the BOD, Supervisory Board and Secretaaries in 2011: From 3% to 5% of profit after tax.
7. Auditing company for Financial Statement 2011 is Auditing and Accounting Company Limited AAC, No.217 Nguyen Van Linh, Da Nang City.
8. Chair of the Board also holds General Manager position in 2011.
* Approval rate: 100%.
hnx
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