Vietnam Daily News

HPG plans to offer over 31m shares for dividend payout

Written by Dailynews.vn Tuesday, 13 December 2011 18:46

Hoa Phat Group Joint Stock Co (HPG)'s director board has recently decided to seek shareholders' opinion on issuing additional shares to pay second phase dividend of 2010 at 10 percent in shares and list additional shares on the stock market. Accordingly, HPG plans to issue 31,361,883 shares to pay 2010 dividend in shares at the ratio of 10:1 (10 old shares for one new share). The total face value of additional shares is expected at 313.6 billion dong. The company's chartered capital is expected to increase from over 3.178 trillion dong to over 3.492 trillion dong after the share issuance. The share issuance is scheduled from the fourth quarter of 2011 to the first quarter of 2012. It is reported that as of September 30, 2011, HPG's retained after tax profit reached over 1.786 trillion dong, rising over one trillion dong from December 31, 2010 (756.6 billion dong). The wholly additional shares to pay 10 percent dividend of 2010 will be listed on Hochiminh Stock Exchange (STC) after finalising the share issuance.

Source: www.intellasia.net/news/articles/stock_market/111350663.shtml