Colusa-Miliket JSC (CMN) has announced that May 29 will be the record date for a cash dividend payment of 26% for fiscal year 2023, equivalent to a payout of VND 2,600 per share. The payment is expected to be made on June 10. With 4.8 million outstanding shares, the company plans to distribute over VND 12 billion in dividends this period.
This is not the first time that this generous noodle company has rewarded its shareholders with cash dividends. Over the past six years, Miliket has consistently paid out cash dividends ranging from 17% to 33% annually. Currently, Colusa-Miliket has three major institutional shareholders. The Southern Food Corporation (Vinafood 2) is the largest, holding 30.72% of the company’s capital, followed by Mesa Service and Trading Company, and the Vietnam Tobacco Corporation (Vinataba), which own 20.07% and 20% respectively.
Colusa-Miliket, established in 1972 as the Colusa Food Processing Enterprise, has undergone several name changes and mergers. In 2004, Colusa Miliket Food Processing Enterprise was officially born, and in 2006, the company was equitized with a charter capital of VND 48 billion.
Over its 45-year history, Miliket has become a “venerable” brand in Vietnam. The iconic image of the two-shrimp paper-wrapped noodles is deeply ingrained in the memories of many Vietnamese, making it a nostalgic favorite.
Once holding a dominant 90% market share in the 1990s, Miliket now commands a modest 4% of the noodle market. Despite intense competition from new noodle brands with flashy packaging, Miliket remains resilient by carving out its own unique niche.
The company has also diversified its product portfolio to meet evolving consumer demands, expanding into instant pho, congee, hủ tiếu, and rice vermicelli, as well as various seasoning products. Miliket’s products are now exported to South Korea, China, Myanmar, and Singapore.
According to the 2023 financial statements, Colusa-Miliket JSC recorded a revenue of VND 719 billion and a net profit of VND 21 billion, representing a 14% increase in revenue and a slight decrease in profit compared to the previous year.
For the current year, Colusa-Miliket forecasts a 6% increase in output to 19,000 tons. They anticipate revenue of VND 765 billion and a net profit of nearly VND 22 billion, reflecting year-over-year growth of 4% and 5%, respectively. The company intends to maintain a cash dividend policy of 26%, translating to VND 2,600 per share.
