DIC CORP (DIG): PLAN OF VND 550 BILLION PROFIT IN 2019, INCREASING MORE THAN 28% OVER THE SAME PERIOD

Business results in 2018

In 2018, DIC Corp's revenue reached VND 2,345 billion (data based on the audited consolidated of financial statements), an increase of 47% over the same period in which fulfilling 90% of the yearly plan. Profit after tax increased by 67.7% compared to that of 2017, reaching VND 428.3 billion, exceeding the profit target of 15.8% for the whole year.

The reason for the strong increase in revenue and profit in 2018 due to the success of companies in the field of real estate business, continuing to invest in developing projects that have completed the basic legal procedures such as Nam Vinh Yen New Urban area, Dai Phuoc Ecotourism Urban area, component projects in the center of Chi Linh etc. Besides, the tourism real estate business continues to develop. In the year, the company put into operation products such as DIC The Landmark Residence, DIC Star Vinh Yen Hotel..

 Profit distribution for 2018

With the achieved results, the DIC’s Board of Directors plans to present the AGM of the profit distribution plan for 2018, in which more than VND 326 billion will be paid to pay dividend at the rate of 12% to shareholders (7% in cash and 5% in shares)

Along with that, the BODs also submitted to the AGM the plan to issue shares to pay dividends. Accordingly, DIC Corp expects to issue more than 15 million shares to pay dividends, 5% issue rate, or shareholders owning 100 shares will receive 5 new shares. The release time will be in quarter 2/2019.

Value issued at par value is over VND 150 billion. It is expected that after the issuance, DIC Corp will increase the chartered capital from over VND 3,000 billion to VND 3,150 billion.

Business plan for 2019

In 2019, DIC Corp aims to achieve consolidated revenue of VND 2,900 billion, consolidated pre-tax profit is estimated at VND 550 billion, increasing 28.4% compared to the profit achieved in 2018.

 Issuing USD 100 million of corporate bonds

DIC Corp also submitted the plan to issue 1,000 non-convertible corporate bonds. The bond has a face value of USD 100,000 / bond, corresponding to the total value issued at par value of USD 100 million. Issuing price is equal to 100% of par value. Bonds have a term of 3-5 years with a maximum interest rate of 5%.

The total amount of money is used to invest in new projects: DIC Star Tourism Complex, Nghinh Phong - Vung Tau City; Hai An Tourist Area, Con Dao - Ba Ria - Vung Tau Province; Bau Trung New Urban Cultural Park, Vung Tau city; Ho Tram DIC Golf Course & Resort.

                                                                                                                                                                               Source: Cafef