SDA to pay dividend in shares

Friday, May 2, 2008
Simco Song Da Joint Stock Co (SDA) recently passed the plan to offer 3.5 million shares to hike its chartered capital from the current of 70 billion dong to 105 billion dong.

Of which, 700,000 shares will be offered to pay for the 10% dividend for the second phase of 2007, 1.4 million bonus shares will be allocated to the existing shareholders at the ratio of one new share for five shares held and the remaining 1.4 million shares will be sold to the strategic shareholders at the offering price of 10,000 dong per share.

The capital being mobilised from the shares issue will be invested in Phung Hiep industrial zone project valued at 23 billion dong in Ha Tay province's Thuong Tin District and 12 billion dong in Dak Doa Hydropower Joint Stock Co.

Last year, SDA made a revenue of 121.8 billion dong, 32.17 billion dong from pre tax profit and plans to pay 2007 dividend of 20% that could be 200.6 billion dong, 37.2 billion dong and 20% this year respectively.