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Companies Finalize Cash Dividend Payouts from Sep 23-27
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The most prominent name for next week is Fomeco (Mechanical Engineering Company, UPCoM: FBC), a mechanical engineering partner of Honda. Accordingly, FBC will go big with a 200% dividend payout, the highest in the company’s history. With 3.7 million shares outstanding, FBC is estimated to spend VND 74 billion on dividends. The ex-dividend date is Sep 26, and payment is expected on Nov 7, 2024.
Fomeco’s generous dividend is attributed to its record-high net profit of VND 73 billion in 2023, a 21% increase from 2022, thanks to reduced raw material costs and higher financial profits from depositing investable funds in savings accounts.
Currently, the Vietnam Engine and Agricultural Machinery Corporation (VEAM) is the parent company, owning 51% of Fomeco and expecting to receive approximately VND 38 billion in dividends in the upcoming payout.
Ranking second is Sasteco (Saigon Port Cargo Handling and Services, UPCoM: SAC), finalizing a record dividend payout of 70.65% (VND 7,065 per share). The ex-dividend date is Sep 27, and payment is due on Oct 15, 2024.
With over 3.95 million shares outstanding, SAC is estimated to spend nearly VND 28 billion on the upcoming dividend, equivalent to 100% of its after-tax profit remaining after distribution as of 2023.
Currently, the Vietnam Maritime Corporation (VIMC, UPCoM: MVN) indirectly owns Sasteco through its subsidiary, Saigon Port Joint Stock Company (UPCoM: SGP). With a 51.43% stake in SAC, MVN is expected to receive VND 14.4 billion in dividends. Following that, Agricultural Supplies Joint Stock Company, with a 5% stake, will receive nearly VND 1.4 billion.
Vinamilk (HOSE: VNM) also stands out by finalizing two dividend periods next week, including the fourth installment of 2023 and the first advance of 2024, totaling 24.5%, or VND 2,450 per share. The ex-dividend date is Sep 24, and payment is expected on Oct 24, 2024.
The highlight here is the actual payout, with VNM having nearly 2.09 billion shares outstanding, equivalent to VND 5.1 trillion in dividends.
Next week, only two companies will finalize share dividend payouts: TMS and TPB. TPB will finalize the rights with a ratio of 20% (100:20, i.e., 100 shares receive 20 new shares) and is expected to issue more than 440 million new shares. TMS will finalize the rights with a ratio of 7% (100 shares receive 7 new shares) and is expected to issue over 11 million new shares. The ex-dividend date for both is Sep 23, 2024.
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