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Wednesday, July 24, 2024

Vinamilk to pay 24.5% cash dividends next month

The Saigon Times

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HCMC – Vietnam Dairy Products Joint Stock Company (Vinamilk) will proceed with the payment of the outstanding dividend for 2022 and the first dividend payment for this year, with August 3 set as the record date.

The company will pay the remaining dividend for 2022 at 9.5%, and a dividend of 15% for the first quarter of 2023, or a combined dividend of 24.5%.

With over 2.09 billion shares in circulation, Vinamilk will allocate over VND5.12 trillion for the dividend payment to its shareholders.

Vinamilk already made two dividend payments for 2022, with the first payment of 15% made in August 2022 and the second payment of 14% in February 2023.

With the additional payment, the company will distribute a cash dividend of 38.5% for 2022. This year, Vinamilk plans to distribute a minimum of 50% of its consolidated after-tax profits as cash dividends to shareholders.

The company looks to obtain total revenue of VND63.38 trillion in 2023, up 5.5% over 2022, and maintain pre-tax profit of nearly VND10.5 trillion, the same as the year-ago level.

In its preliminary business results for the second quarter, consolidated revenue is estimated to reach VND15.2 trillion, a 1.6% increase against the same period last year and an 8.9% increase from the previous quarter.

The estimated after-tax profit is VND2.22 trillion, up by 5.6% year-on-year and 16.5% versus the first quarter.

Its VNM shares closed the trading session today, July 19, up 0.28% to VND72,600 per share, with more than 2.9 million shares matched.

Strong sales of several large-cap stocks sent the VN-Index of the Hochiminh Stock Exchange down 1.11 points, or 0.09%, to 1,172.98 points, ending its eight-session winning streak, with losers outnumbering winners by 276 to 185.

VIC had the most negative impact on the index, which shifted from a 0.3% gain in the morning to a 1.14% decline at the close to VND51,200 per share, contributing 0.56 negative points to the main index.

On the flip side, lender VCB advanced 2.1% at VND106,500 per share, preventing the index from a steep decline with a contribution of 2.66 positive points.

After three consecutive sessions of decline, market liquidity showed signs of improvement. The trading value on the southern bourse reached nearly VND17.7 trillion with 896.6 million shares changing hands, up 5% in value and 7% in volume day-on-day. Out of the total, 98.5 million shares were transacted through block deals, with a value of VND2.2 trillion.

Investment funds showed interest in real estate stocks, as evidenced by the top three stocks in terms of trading value – DIG, NVL and DXG.

DIG recorded the highest trading value at over VND920 billion, followed by NVL with VND515 billion and DXG with VND488 billion.

Housing developer DIG emerged as the most actively traded stock on the southern market, with a total of 39.4 million shares changing hands. However, despite the high trading volume, DIG dropped 1.7% at VND22,950 per share.

NVL and DXG came in second and fourth in terms of trading volume, with nearly 34.7 million shares and 30.4 million shares transacted, respectively.

Despite facing selling pressure in the afternoon session, the Hanoi market displayed resilience and closed on a positive note.

The HNX-Index added 0.51 points, up 0.22% from the previous session, closing at 231.47 points, with 89 stocks rising and 110 others dipping.

There were 94.6 million shares worth more than VND1.6 trillion traded on the northern market.

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