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Vinamilk to pay 9% 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, plans to proceed with the third round of dividend payment for 2023, with March 18 set as the record date.

The dairy processing company will pay a cash dividend of 9% to its existing shareholders. Each shareholder will receive VND900 for each VNM share held. The payment date is scheduled for April 26.

With its nearly 2.1 billion outstanding shares, Vinamilk will spend some VND1.9 trillion paying the dividend this time.

Earlier, the company made the first and second rounds of dividend payments for 2023 at 15% in October 2023 and 5% in February 2024.

Vinamilk’s fourth-quarter earnings report showed full-year revenue in 2023 reaching VND60.3 trillion, up by a modest 1% year-over-year. Domestic sales contributed VND50.6 trillion, while foreign markets generated VND9.7 trillion. Its after-tax profit rose by 5.2% year-on-year at over VND9 trillion.

Closing the trading session today, March 11, VNM bucked the market’s downward trend, inching up by 0.43% to VND70,300. More than 4.2 million VNM shares were traded on the southern market.

The VN-Index of the Hochiminh Stock Exchange lost 11.86 points, or 0.95%, versus the previous session, to 1,235.49 points.

Trade on the southern bourse dropped 27.7% in volume at over 976 million shares and over 26.6% in value at VND23.8 trillion, including about VND1.3 trillion worth of shares traded in block deals.

Bank stocks emerged as the main drags on the market, as most of them declined. With a 1.05% drop, VCB took away 1.4 points from the VN-Index. VPB, BID and MBB also weighed on the index, with each contributing to a loss of over 0.8 point.

MBB was the most actively traded stock on the southern bourse, with more than 34.9 million shares changing hands.

Losers outnumbered advancers on the Hanoi Stock Exchange at a ratio of 124 to 56. The HNX-Index dipped 2.48 points to 233.84 points, with 92.17 million shares valued at VND1.9 trillion traded.

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