Vinamilk Announces Cash Dividend: A Rewarding Move for Shareholders
Vietnam Dairy Products JSC (Vinamilk – code: VNM) has just announced a resolution by its Board of Directors to distribute cash dividends.
Specifically, on September 25th, Vinamilk will finalize the list of shareholders eligible for the final 2023 dividend payout at a rate of 9.5% in cash (VND 950 per share) and an interim dividend for 2024 at a rate of 15% in cash (VND 1,500 per share).
The total dividend ratio stands at 24.5% in cash. With 2.09 billion circulating shares, Vinamilk is expected to distribute over VND 5,120 billion in total. The payment is scheduled to be made on October 24, 2024.
Upon completion of this payout, the total dividend ratio for Vinamilk shareholders in 2023 will amount to 38.5% (over VND 8,000 billion), in line with the plan approved at the Annual General Meeting of Shareholders held in April this year.
Looking ahead to the 2024 dividend plan, Vinamilk aims to maintain a ratio of 38.5% (VND 3,850 per share).
As a leading company, Vinamilk holds over 50% of the Vietnamese dairy market share. The enterprise boasts the country’s largest production scale, owning 15 high-tech farms with a total herd of over 140,000 cows and 16 factories capable of producing 1 billion liters of milk per year. Currently, over 80% of VNM’s revenue stems from the domestic market, and the company is striving to expand its exports to global markets.
In terms of business performance, for the first six months of 2024, Vietnam’s largest dairy company recorded VND 30,790 billion in revenue, a nearly 6% increase compared to the same period last year. After-tax profit surged by 19% to approximately VND 4,309 billion.
For the full year 2024, Vinamilk has set a record target of VND 63,163 billion in total revenue and VND 9,376 billion in after-tax profit. Thus, after six months, the dairy giant has achieved 49% of its revenue plan and 52% of its profit target.
In the market, VNM shares are currently trading at VND 74,200 per share, reflecting an 11% increase since the beginning of 2024. This translates to a market capitalization of approximately VND 155,000 billion (~ USD 6.2 billion).
Vinamilk: Impressive nearly 20% growth in Q4/2023 export revenue
Vinamilk has announced its financial report for Q4 2023, recording a consolidated total revenue and after-tax profit of VND 15,630 billion and VND 2,351 billion, respectively. This represents an increase of 3.6% and 25.8% compared to the same period last year. For the full year, the consolidated total revenue and after-tax profit reached VND 60,479 billion and VND 9,019 billion, completing 95% of the revenue target and 105% of the profit target.
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