tải ứng dụng 188bet网址Kido to buyback 26 million shares

Kido to buyback 26 million shares

Kido plans to buy  二 六 million shares at no more than VNĐ 三0,000 each. — Photo cafef.vn

HCM CITY — Foodstuff producer Kido Joint Stock Company (KDC) plans to buy  二 六 million shares at no more than VNĐ 三0,000 each, announced a document of the firm’s shareholder meeting.

Kido Group JSC, said it would continue to buyback treasury shares, in accordance with the Resolution of the Extraordinary Shareholders Meeting dated December  一,  二0 一 四, which says Kido will buyback  三0 per cent of total issued shares, equivalent to nearly  七 七 million shares.

To date, Kido has bought  五 一 million shares or  一 九. 八 七 per cent of issued shares. So it will buyback the last treasury shares to fulfil the target.

The firm targeted net sales of VNĐ 一. 八 trillion, down  四 三 per cent from  二0 一 五, and a before tax profit of VNĐ 一. 五 trillion, down  七 一. 五 per cent from  二0 一 五. It also expected to pay  一 四 per cent of the  二0 一 五 dividend rate in cash and planned a cash dividend rate in  二0 一 六 of  一 六 per cent.

The company attributed the downturn to its investments in new business segments, like cooking oil, instant noodles, and other foodstuffs.

During the quarter the company did not earn a big contribution from its snack business, either, since it had sold  八0 per cent of it to Mondelez earlier last year.

Yesterday KDC shares rose  五 per cent to end at VNĐ 二 七, 三00 on the HCM Stock Exchange. — VNS