With profits five times higher than the previous year, Vietnamese garment manufacturer and exporter Vinatex Da Nang Joint Stock Company will pay a cash dividend of 40% to its shareholders.
Vinatex Da Nang which reported after-tax profit of VND 12.4 billion, a five-fold jump profit over the earlier year, is a subsidiary of Vietnam’s biggest textiles and apparel producer Vietnam Textile and Garment Group (Vinatex).
In the period under review, Vinatex Da Nang recorded net revenue of VND 790 billion, an increase of 12% compared to the previous year.
Currently, Vinatex owns 27.28% of Vinatex Da Nang shares and 4M Joint Stock Company owns 21.76% of the shares, while the rest is with public shareholders.
The Board of Directors of Vinatex Da Nang Joint Stock Company announced a 40% cash dividend to shareholders, which means each shareholder owning one share will receive VND 4,000.
Established in 1995 and converted into a joint-stock company in 2004, Vinatex Da Nang produces fashion apparel and protective wear for global export markets.
Image courtesy: Immago
