We attended VEA’s AGM on June 25. The meeting focused on the company’s plan to move its share listing to HOSE as well as its dividend plans.FY2020 cash dividend: VND4,990/share (yield of 10.3%), which is slated to be paid in H2 2021. VEA's FY2020 cash dividend trails our forecast of VND5,400/share mainly due to potential write-offs of the parent entity's non-performing loans to subsidiaries and associates.