The Securities Depository Centre recently announced that Hacinco Joint Stock Co (coded HSC) decided to lower the dividend payment rate to 7% for the fourth quarter of 2008.
Earlier, the company agreed a dividend payment of 18% in cash for the last quarter of the year. Therefore, the dividend payment for the whole year will be 36%, exceeding the shareholders' resolution in annual meeting of 2007.
According to HSC, this reduction is to ensure the approved resolution of the company's shareholders' annual meeting held on February 2008 at 25% per year.
The company will still close the list of shareholders on December 10 and pay dividend on December 30.
