Vinamilk spends 5,100 billion VND on dividends

Vinamilk announced that it will spend VND5,100 billion to pay dividends for the last period of 2023 and the first period of 2024 with a total rate of 24.5%, meaning each share will receive VND2,450.

Vietnam Dairy Products Joint Stock Company (Vinamilk, stock code: VNM) has just announced the closing of the list of shareholders to receive cash dividends for the last period of 2023 at a rate of 9.5% and the first period of 2024 at a rate of 15%. Shareholders owning each share will receive a total of VND 2,450 (24.5%).

The company said the last registration date is September 25 and payment is October 24. With nearly 2.09 billion listed shares, Vinamilk is estimated to spend more than VND5,100 billion on this payment.

The State Capital Investment Corporation (SCIC), Vinamilk's largest shareholder, holding 36% of charter capital (equivalent to more than 752 million shares), will receive VND1,843 billion. Thai billionaire Charoen Sirivadhanabhakdi's F&N, holding 17.69% (equivalent to about 370 million shares), will receive about VND905 billion. In addition, Platinum Victory Pte. Ptd and Jardine Matheson Limited, together holding 10.62% (equivalent to nearly 222 million shares), will receive nearly VND543 billion.

Previously, Vinamilk had made 3 interim dividend payments for 2023, including the first payment at a rate of 15% paid in early October 2023, the second payment at a rate of 5% and the third payment at a rate of 9% paid on February 28 and April 26 this year, respectively. Thus, including this payment, Vinamilk has spent a total of VND 8,046 billion to pay dividends in 2023, equivalent to 91% of consolidated after-tax profit allocated to the company's owners.

According to documents submitted to the annual general meeting of shareholders held at the end of April , Vinamilk expects the total dividend for the whole year of 2024 to be the same as last year at 38.5%, meaning each share will receive VND3,850.

After a sharp increase from VND65,000 to VND76,000, VNM shares have had three consecutive corrections, bringing the market price back to VND74,000. Dividend information helped this stock rebound slightly from the reference price in this morning's session (August 23), to VND75,300. Compared to the price at the beginning of the year, this stock has accumulated about 10%.

According to the audited financial report, the company recorded net revenue in the second quarter of 2024 of approximately VND 16,656 billion, an increase of 9.6% over the same period. Gross profit was over VND 7,067 billion, with a profit margin of 42.4%. After deducting expenses, pre-tax profit was over VND 3,308 billion and after-tax profit in this period was nearly VND 2,696 billion, both up 21% over the same period last year.

In the first half of the year, Vinamilk's net revenue was over VND30,768 billion, up nearly 6% over the same period. Gross profit reached VND12,979 billion, gross profit margin reached 42.2%. Pre-tax profit in this period was over VND6,014 billion, up 19.3% over the same period last year. After-tax profit was about VND4,903 billion, up 18.6% over the same period.

Vinamilk targets total consolidated revenue this year at VND63,163 billion, up 4.4% from VND60,479 billion last year. If achieved, this will be the highest revenue in Vinamilk's history, surpassing the record of VND61,012 billion set in 2021. Pre-tax profit is targeted at VND11,516 billion, up 5% from VND10,968 billion last year. After-tax profit is expected to grow at a lower rate, up only 4% year-on-year to VND9,376 billion.

After half a year, the company has completed 48.7% of the revenue plan and 52.2% of the profit target.

In the annual report, Ms. Mai Kieu Lien, General Director of Vinamilk, said that the company's priority this year is to continue to recover market share and sales in a sustainable and profitable manner. "That is why we will maintain our focus on optimal operational solutions to have more budget to serve market development and strengthen brand strength," Ms. Lien shared.

As of June 30, Vinamilk's total assets reached VND54,194 billion. Liabilities were VND15,856 billion, down 10% compared to the beginning of the year. The majority of the company's debt structure was short-term with more than VND15,403 billion. Owner's equity was more than VND38,337 billion, and undistributed profit after tax reached VND6,000 billion.

Source: https://baodautu.vn/vinamilk-danh-5100-ty-dong-chia-co-tuc-d223095.html