23rd May 2016 06:53
LONDON (Alliance News) - VinaLand Ltd on Monday said it will return around USD35.0 million to shareholders in June, following recent project disposals earlier this month.
The Vietnam-focused real estate investor said it will make the distribution from its Share Premium Account, with the USD35.0 million representing a return of around 8.76 cents per share to shareholders.
This comes after VinaLand sold its stake in the Danang golf project on Friday for USD37.4 million, and its stake in its mixed use development project Century 21 for USD75.4 million earlier this month.
VinaLand said it was continuing to work towards the closure of further project disposals.
By Hannah Boland; [email protected]; @Hannaheboland
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