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Paid share dividend in July; to raisecharter capital from VND145 bn to VND174 bn. SEC paid an interim share dividend of 20% (on par) on 20 July 2011. We believe that the company will issue an additional 5% (on par) share dividend to increase its charter capital from VND174 bn to VND181 bn, in line with the resolutions passed at its last AGM. It is also targeting for a cash dividend of VND1,500 – VND2,500 for FY11, which will provide a a cash dividend yield of 7.9% to 13.2%.
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