Masan Consumer Holdings, a leading consumer goods company in Vietnam, has just released the minutes from its 2024 Annual General Meeting of Shareholders.
In addition to the 100% dividend already approved and distributed, the company has proposed a supplementary cash dividend for 2023.
The shareholders of Masan Consumer have approved a supplementary cash dividend for 2023, with a payout ratio of 168%. This means that for every share owned, investors will receive an additional VND 16,800 per share, to be paid out in one or more installments within six months from the approval date.
Earlier this year, at the beginning of the Annual General Meeting, Masan Consumer also approved a 100% cash dividend for 2023. The first installment of a 45% dividend was paid out in July 2023, and the second installment of a 55% dividend was distributed in July 2024.
Thus, for 2023 alone, Masan Consumer will distribute a total cash dividend of 268%, meaning shareholders will receive a total of VND 26,800 per share.
Notably, the company released a list of shareholders to seek their approval through a written resolution. According to the list, MCH has a total of 129 shareholders holding 698,091,478 voting shares. Among them, MasanConsumerHoldings Co., Ltd. owns 671.35 million MCH shares, equivalent to 92.37% of the charter capital; Albizia Asean Tenggara Fund owns 3,891,258 MCH shares; Vietcap Securities Joint Stock Company owns 2,700,800 MCH shares; and Bill & Melinda Gates Foundation Trust owns 1,041,100 MCH shares.
Bill & Melinda Gates Foundation Trust is the financial management unit of Bill & Melinda Gates Foundation (BMGF), a charitable organization co-founded by Bill Gates, founder of Microsoft Corporation, and his former wife, Melinda Gates.
MCH has issued 7,130,635 ESOP shares, increasing its charter capital to over VND 7,355 billion. The company currently holds 10,915,388 treasury shares and has 724,637,791 voting shares in circulation.
According to the audited semi-annual financial statements for 2024, MCH recorded a 12% increase in net revenue to VND 13,968 billion and a 13% rise in after-tax profit to VND 3,458 billion. The company attributed this growth to the performance of its beverage, convenience food, and seasoning segments, effective cost control measures, and increased brand recognition and sales through strategic advertising and promotional campaigns.
Additionally, the company’s net income from financial activities in the first half of 2024 grew by 21% year-over-year due to optimized investment cash flows.
With these results, MCH has achieved 40-45% of its revenue target (VND 31,500 – 34,500 billion) and 46-48% of its profit goal (VND 7,300 – 7,500 billion) for the year.
In terms of stock price performance, MCH shares closed at VND 207,100 per share on September 17, 2024, reflecting a remarkable year-to-date increase of over 140% from VND 85,020 per share at the beginning of the year.
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