International Dairy Products Joint Stock Company (IDP) has just announced the closing of the list of shareholders to receive the first cash dividend payment in 2023 at a rate of 85%. Accordingly, each shareholder owning 1 share will receive 8,500 VND in cash dividends.
Currently, there are 61.3 million IDP shares in circulation on the market. Thus, it is estimated that International Milk will have to spend about 521 billion VND to pay dividends to shareholders. The expected payment date is February 5, 2023.
International Dairy Development (IDP) plans to pay dividends at a rate of 85% and issue 1.18 million ESOP shares to employees (Photo TL)
In the shareholder structure of IDP, Blue Point JSC is holding 54.28% of charter capital. Foreign fund Daytona Investments Pte. Ltd is also holding 12.56% of the company's charter capital. These two shareholders are expected to receive 283 billion and 65 billion VND in this dividend payment.
Regarding dividend payout ratio, since being listed on UPCoM in 2021, IDP has paid cash dividends twice at a rate of 90% in 2021 and 60% in 2022.
In addition to the dividend payment plan for shareholders, International Milk is also planning to issue 1.18 million ESOP shares to employees at a price of VND 10,000/share, with a transfer restriction of 1 year. In the trading session on January 11, 2023, IDP shares are priced at VND 250,000/share. Thus, the ESOP price is 25 times lower than the market price.
Regarding the business situation, in the first 3 quarters of 2023, IDP recorded revenue of VND 4,977.9 billion. Profit after tax brought in VND 707.7 billion. Compared with the 2023 business target with revenue of VND 7,141 billion, profit after tax of VND 776 billion, the company has currently completed 70% of the revenue plan and 91% of the annual profit plan.
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