SEC plans to pay 2011 dividend at 40-50pct

The southern bourse-listed Gia Lai Sugar-Thermal Power Joint Stock Co (coded SEC) announced the company’s targeted year plan with total revenue of 526 billion dong and after tax profit of 95 billion dong. SEC expected to pay dividend at ratio of 40-50 percent.



In the latest shareholders meeting, the shareholders also approved for raising the company’s designed capacity from 2,500 tonnes of sugar canes per day to 3,500 tonnes per day in 2011-2012 crop with total investment capital of no more than 120 billion dong. At the same time, the company planned to increase the capacity to 6,000 tonnes per day in 2012-2013 crop. In addition, SEC planned to invest 10 billion dong in building the 20,000-tonne storage house for finished sugar products.



Moreover, the company also cooperate with partners in setting joint venture for building the food ethanol plant with designed capacity of 12,000 tonnes per year.



In order to raise capital for investment purposes, SEC planned to issue 3,626,373 shares so as to raise chartered capital to 181 billion dong.



Last year, the company paid dividend at 30 percent ratio.

Tags: Vietnam companies, vietnam enterprices

Posted by VBN on Mar 21 2011. Filed under Enterprises. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry