CMSC to receive 109 million USD dividend from Petrolimex
The Committee for Management of State Capital at Enterprises (CMSC) will receive a cash dividend of more than 2.55 trillion VND (109 million USD) from the Vietnam National Petroleum Group (Petrolimex) for its performance in 2018.
Motorcyclists have their vehicles refilled at a gas station of Petrolimex (Photo: VNA)
Hanoi (VNA) - The Committee for Management of StateCapital at Enterprises (CMSC) will receive a cash dividend of more than 2.55trillion VND (109 million USD) from the Vietnam National Petroleum Group(Petrolimex) for its performance in 2018.
The figure is equivalent to a dividend rate of 26 percent,meaning each shareholder with one share will receive 2,600 VND. The deadlinefor the registration to receive the dividend is May 31, 2019. They payouts willtake place on July 23, 2019.
The state ownership in Petrolimex was transferred fromthe Ministry of Industry and Trade to CMSC last November.
CMSC Chairman Nguyen Hoang Anh said Petrolimex was still oneof the largest contributors to the committee and the State budget. In 2018,Petrolimex paid taxes of 38.2 trillion VND (1.64 billion USD) to the Statebudget.
In previous years, Petrolimex maintained a cash dividendrate of 30 percent and was one of the few State-owned corporations that paidlarge cash dividends.
At present, the CMSC owns a 83.85 percent stake inPetrolimex but will reduce its capital in the group to 51 percent from 2019-2020.
A major shareholder of Petrolimex, JX Nippon Oil & EnergyVietnam, said it was willing to raise its ownership in Petrolimex from 8.84 percent to20 percent.
In the first quarter of 2019, Petrolimex earned nearly 1.3trillion VND (55.6 million USD) in after-tax profit, up 29 percent over thesame period last year and fulfilling 30 percent of the yearly plan.-VNA
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Motorcyclists have their vehicles refilled at a gas station of Petrolimex (Photo: VNA) 
