Masan Consumer spends more than 12,000 billion VND to pay dividends

Masan Consumer plans to pay an additional cash dividend in 2023 at a rate of 168%, equivalent to VND 16,800 per share, bringing the total dividend to 268%.

Masan Consumer Joint Stock Company (Masan Consumer - stock code: MCH) recently announced a document to collect shareholders' written opinions on the additional dividend payment for 2023 at a rate of 168% in cash, meaning each share will receive an additional VND 16,800.

Additional dividends may be paid in one or more installments within 6 months from the date of approval of the resolution of the General Meeting of Shareholders.

With more than 717 million shares outstanding, Masan Consumer is expected to spend about VND12,050 billion to pay additional dividends to shareholders. This amount is nearly equal to the entire remaining undistributed profit of the 2023 fiscal year. Masan Group (MSN) through its subsidiary MasanConsumerHoldings will receive VND11,279 billion of this amount as it is the only major shareholder with an ownership ratio of 93.57%, equivalent to more than 671 million shares.

Previously, Masan Consumer completed the 2023 dividend payments at a rate of 100% in cash. Specifically, the company has provisionally paid VND3,224 billion, equivalent to 45% in August 2023 and VND3,946 billion, equivalent to 55% in July 2024.

The total dividend that shareholders will receive from Masan Consumer in 2023 is 268%. Thus, the total amount of money the company will use to pay dividends is VND 19,225 billion.

On the stock exchange, MCH shares are currently at VND211,200, down slightly from the historical peak set at the end of June this year (VND223,000). Market capitalization reached over VND151,537 billion.

Regarding business performance, in the first 6 months of the year, the company achieved net revenue of VND 13,968 billion, up 11.6% over the same period. Gross profit during this period was more than VND 6,492 billion, gross profit margin reached 46.5%.

The company reported pre-tax profit of VND3,923 billion and after-tax profit of VND3,458 billion, up 14.6% and 13.4% respectively over the same period last year.

This year, Masan Consumer plans to achieve net revenue of VND31,500 - 34,500 billion, after-tax profit of VND7,300 - 7,500 billion. After half a year, the company has completed 40.5 - 44.3% of the revenue plan and 46.1 - 47.4% of the profit target.

Masan Consumer currently has 5 brands with revenue of 150-250 million USD including Kokomi, Omachi, Chinsu, Nam Ngu and Wakeup 24/7, contributing about 80% of the total revenue of the parent company, Masan Group.

At this year's General Meeting of Shareholders, the Board of Directors said that Masan Consumer has grown at a rate 2.2 times faster than the general market in the period of 2017-2023, aiming to further grow its target market by participating in the out-of-home consumer market, providing premium products to replace meals at home and replace meals at restaurants.

“Masan Consumer's strategic goal is to own 6 billion-dollar brands, premiumize products and expand product ranges for each brand, expanding the accessible market from 100 million consumers in Vietnam to 8 billion people globally,” emphasized Mr. Truong Cong Thang, General Director of Masan Consumer.

In particular, Omachi aims to expand its target market from 1 billion USD of the instant noodle industry to 17 billion USD of the home meal replacement industry by launching self-boiling hot pot and self-cooking rice products...

Chinsu brand also aims to premiumize to serve more than 30 million cups of fish sauce per day, accounting for more than 65% of Vietnam's fish sauce consumption. This brand has developed a portfolio of premium condiments, aiming to reach global consumers.

As of the end of June 2024, the company had total assets of more than VND 41,823 billion, an increase of VND 1,271 billion compared to the beginning of the period. Liabilities decreased by VND 2,236 billion compared to the beginning of the year, down to VND 11,941 billion. Short-term items accounted for the majority of the company's debt structure with about VND 11,670 billion. Owner's equity was more than VND 29,882 billion, undistributed profit after tax was approximately VND 19,526 billion.

Source: https://baodautu.vn/masan-consumer-chi-them-hon-12000-ty-dong-tra-co-tuc-d223977.html