NVL - 2017 guidance with share issuances ahead - AGM Note
We attended NVL’s annual general meeting (AGM) today, April 27, 2017. Hand-overs at key projects fuel 2017 revenue and NPAT-MI growth guidance of 138% and 89%, respectively. Shareholders approved no dividend for 2016 while the maximum 2017 dividend will be 20% (maybe in stock or cash). Shareholders approved upcoming share issuances during 2017 which will increase charter capital by the end of 2017 to VND9.0 trillion (USD394 million, +51% vs current level).