Mien Tay Bus Station to pay out dividends at VND 40,000 per share

Mien Tay Bus Station Joint Stock Company (stock code: WCS) has just announced the making of a list of shareholders to pay dividends for the remainder of the year 2018. In the division conducted at the end of next month, each shareholder owns one WCS shares received 20,000, corresponding to the rate of 200%.

The company is expected to spend about VND 50 billion to pay dividends for 2.5 million shares listed on the Hanoi Stock Exchange. Saigon Transportation Mechanical Corporation (Samco), a state-owned enterprise under the People's Committee of Ho Chi Minh City, is the shareholder who gets the most benefit by owning 51% of the capital here.

Earlier in June, Mien Tay Station had paid the first dividend at the same rate. At the annual general meeting of shareholders at the beginning of the year, the company approved a plan to spend 100 billion dong to pay a cash dividend of 400%, although last year's profit after tax was only 66 billion dong.

The management of Mien Tay Bus Station expects an after-tax profit of approximately VND 34 billion this year, net profit margin continues to remain at a very high level of 50%. Guaranteed dividend rate is not lower than 20%. 

According to the semi-annual financial report, accumulated undistributed after-tax profit of Mien Tay Station as of June 30 was over 104 billion dong, down about 75 billion dong from the beginning of the year.