Cement producer aims to raise dividend payment in shares

Can Tho Cement Joint Stock Co (coded CCM) lately collected shareholders’ opinions in documents about cancelling the plan of issuing convertible bonds and changing the dividend payment methods.

Accordingly, the company will cancel the plan of offering convertible bonds worth 70 billion dong and paying 2010 dividend in cash at applied ratio of 18 percent as mentioned in the company’s resolution approved early this year.

Instead, the company’s management board proposed to pay dividend in shares at 12.5 percent of total chartered capital, and 5.5 percent in cash. If this plan is approved by the shareholders, the company may increase chartered capital from 40 billion dong to 45 billion dong.

The company planned to pay dividend in Q1 of 2011.

 

Category: Stocks