PVGAS announces 30 percent cash dividend

Petrovietnam Gas (PVGas) has earmarked 248 million USD from its profits in 2020 to pay a 30-percent dividend to its shareholders.

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With 96 percent stake, Petrovietnam, which is the parent company of Petrovietnam Gas, will receive more than 230 million USD.

GAS eyes revenue growth of 7 percent this year to over 3 billion USD though profits are expected to see a 12% decline.

According to experts, the Covid-19 pandemic and fuel price volatility are going to be the main challenges for the company this year. Besides, the falling output in its gas fields and rising maintenance costs also affect the results.

GAS is the 10th biggest listed company in terms of market capitalization. Its stock has gained nearly 8 percent this year while the benchmark VN-Index has risen by 22 percent./.

VNA