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POW - First AGM with nice surprise on cash dividend - AGM Note

We attended POW’s AGM on June 26, 2018 in Hanoi. POW surprisingly announced it will pay cash dividend of VND300/share (2.3% yield) in H2 2018 compared to previous guidance of only a stock dividend over 2018-2020. Shareholders approved a listing on HOSE while management expects to move to the main exchange within 2018 after publishing audited financial statements for H1 2018. Strategic partner has high interest, but further stake sales will be carried out in the market.