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Saturday, February 4, 2023

Vinamilk to pay 14% cash dividend

The Saigon Times

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HCMC – Vietnam Dairy Products Joint Stock Company (Vinamilk), whose VNM shares are traded on the Hochiminh Stock Exchange, will make its second dividend payment this year, with December 23 set as the record date.

The dairy processing company will pay a cash dividend of 14% to its existing shareholders. Each shareholder will receive VND1,400 for each VNM share held. The payment date is scheduled for February 28 next year.

With its nearly 2.1 billion outstanding shares, Vinamilk will spend some VND3,000 billion paying the dividend this time.

In August this year, the company made the first dividend payment for 2022 at a ratio of 15%.

According to its dividend payment plan passed at its 2022 annual general meeting, Vinamilk would make dividend payments of 38.5% to its existing shareholders for 2022. This means VNM shareholders will continue to get the balance of 9.5%.

As for its business performance, Vinamilk booked more than VND16 trillion in revenue in the third quarter this year, equivalent to the year-ago figure. Its after-tax profit rose 10.5% year-on-year at over VND2.3 trillion.

In the year to September, the company had posted over VND44.9 trillion in revenue and more than VND6.7 trillion in after-tax profit, meeting 70% and 69% of its respective full-year targets.

Vinamilk said the local consumption of dairy products has bounced back. The company has implemented multiple programs to cope with recent market volatility, such as launching around 600 retailing facilities. Its Giac Mo Sua Viet stores and e-shops also witnessed a hike in sales.

Recently, Singapore-based F&N Dairy Investment, a large shareholder of Vinamilk, has registered to buy nearly 20.9 million VNM shares from December 6 to January 4. Once the transactions are completed, the Singaporean firm would raise its ownership in Vinamilk from 17.69% to 18.69%.

Closing the trading session today, November 5, VNM rose 1.19% to VND85,000.

The benchmark VN-Index of the Hochiminh Stock Exchange added 13.66 points, or 1.26%, against the previous session, at 1,093.67, with advancers outnumbering decliners by 351 to 135.

Trade on the southern bourse inched up over 15% in volume and over 17% in value over the session earlier at over 1.2 billion shares and more than VND20.9 trillion, including about VND3 trillion worth of shares traded in block deals.

The HNX-Index of the Hanoi market improved four points, or 1.85%, versus last Friday at 219.96, with 112 winners and 72 losers.

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