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VietinBank Securities (CTS) to pay a cash dividend at 10 per cent rate
VietinBank Securities Joint Stock Company (CTS) plans to pay a 2018 dividend in cash at a rate of 10 per cent.
Each shareholder with receive VND1,000 per share, with the payout date September 27.
With more than 106 million shares in circulation, CTS expects to spend more than VND106 billion (US$4.5 million) for the payout, which will be funded by the undistributed after-tax profit of the company recorded as of December 31, 2018.
In 2018, post-tax profit reached more than VND150 billion, up 37 per cent compared to the same period in 2017. With a post-tax profit goal of VND172 billion for 2018, CTS only achieved 87 per cent of the target.
As of December 31, 2018, undistributed post-tax profit touched more than VND183 billion.
The company has also approved a plan to issue non-convertible bonds in Vietnamese dong by private placement to supplement capital for business activities.
In the third quarter of this year, CTS will also issue 100 convertible bonds with par value of VND1 billion per bond, with a term of one year and fixed interest rate of 9.2 per cent per year. It expects to collect VND100 billion after the issuance.
On the stock market, CTS closed Friday up 6.3 per cent to VND9,500 per share. It has declined 11 per cent in less than five months.
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