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FECON (FCN) to pay dividend in cash at 5%
Construction firm FECON Corporation (FCN) plans to pay 2019 dividend in cash at the rate of 5 per cent.
Each shareholder will receive VND500 for each share he or she owns. With 118 million outstanding shares, it is estimated that the company will pay a total of VND59 billion (US$2.6 million) to shareholders.
The payment date is scheduled on December 18, 2020.
In the first nine months of this year, FCN recorded revenue of VND2 trillion, up 11.8 per cent. Net profit reached VND83 billion, down 42.7 per cent.
As of September 30, 2020, FCN’s total assets reached VND6.3 trillion, an increase of 11.5 per cent compared to the beginning of the year, of which investment value into associates increased by more than VND200 billion.
One of the notable deals that the company made in the third quarter was the acquisition of 14.69 million shares, equivalent to 48.9 per cent of the charter capital, of Ecotech Vietnam Energy Investment Company Limited.
FECON is one of the biggest underground construction contractors in Viet Nam with 15 years of experience. The enterprise currently has 17 member companies, including joint venture enterprises in Myanmar. FCN shares closed Friday at VND12,500 per share.
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