International Dairy Products Joint Stock Company (code: IDP) announced the closing of the list of shareholders to receive the first cash dividend payment in 2023 at a rate of 85%. The ex-right date is January 19, 2024.

With more than 61.3 million shares in circulation, it is estimated that IDP needs to spend more than VND521 billion for this dividend payment. The expected payment date is February 5.

IDP shares have officially been traded on the UpCom exchange since the beginning of 2021. Over the years, IDP has continuously paid 'huge' dividends. Specifically, in 2021, IDP paid 90%, in 2022 it was 60% and in the first installment of 2023 it was 85%.

With such a dividend payout ratio, IDP is among the few businesses with the highest dividend payout ratio on all three exchanges.

Not only generous about dividends, in November 2023, IDP's Board of Directors also approved a plan to issue shares under the employee stock option program (ESOP) at a very good price.

Accordingly, IDP plans to issue 1.2 million ESOP shares in the first quarter of 2024 at VND10,000/share, equivalent to VND12 billion. With the above issuance price, IDP shareholders and leaders will benefit 25 times more than the current market price of IDP shares, which is more than VND250,000/share.

International Milk is known for its canned milk brands Kun, Ba Vi and LIF (love in farm).

Regarding business performance, in the third quarter of 2023, International Dairy Joint Stock Company recorded revenue of VND 1,646 billion, a slight increase of 1% over the same period. As a result, International Dairy recorded a profit after tax of VND 255 billion, an increase of 33% over the same period.

Accumulated in the first 9 months of 2023, International Milk's revenue and profit after tax reached VND 4,978 billion and VND 708 billion, respectively, up 13% and 10% over the same period.

In 2023, International Milk plans to do business with revenue of VND 7,141 billion and profit after tax of VND 776 billion, up 17% and down 4% respectively compared to the results in 2022. Thus, the company has completed more than 91% of the annual profit target after only 9 months.

At the end of the trading session on January 11, IDP shares reached 250,000 VND/share.

Business News

The stock market has a number of other important events of listed companies.

* CTS: On January 9, Vietnam Joint Stock Commercial Bank for Industry and Trade Securities Company continued to pass a Resolution on short-term loans to Saigon VRG Investment Joint Stock Company of up to VND 2,550 billion.

* DXG: On January 9, the Board of Directors of Dat Xanh Group Corporation approved the policy of borrowing capital from the bank with a total limit of 4,700 billion VND.

* TNS: Thong Nhat Sheet Steel Joint Stock Company is the first steel enterprise to announce its financial report for the fourth quarter of 2023, with a net profit of nearly 3 billion VND; output and consumption were more than 5 times higher than the same period.

* MBS: MB Securities Corporation has just announced its financial report for the fourth quarter of 2023 with net profit 2.4 times higher than the same period, reaching nearly 173 billion VND.

* IDC: IDICO Corporation announces the closing of the list of shareholders to receive the 2nd interim cash dividend of 2023 at a rate of 15%. The ex-dividend date is January 15. The expected payment date is January 31.

* SAF: Safoco Foodstuff Joint Stock Company announced the closing of the list of shareholders to receive 2023 interim cash dividends at a rate of 30%. The ex-dividend date is January 23. The expected payment date is February 1.

* RCC: Ms. Nguyen Thuy Linh, daughter-in-law of Mr. Ta Huu Dien - Chairman of the Board of Directors of Railway Construction Corporation, registered to sell 1 million RCC shares from January 12-31, by negotiation and order matching, to balance personal finances.

* SJE: On January 9, the Board of Directors of Song Da 11 Joint Stock Company approved the branch structure project to establish three subsidiaries operating in the construction sector, including: Song Da 11.1 Company Limited; Song Da 11.5 Company Limited and Song Da 11 Company Limited in the South.

* CRE: Century Real Estate JSC has been late in paying interest to bondholders on bonds that the company issued to VNDirect Securities Corporation.

VN-Index

At the end of the trading session on January 11, VN-Index increased by 0.68 points (+0.06%) to 1,162.22 points, HNX-Index increased by 1.3 points (+0.56%) to 232.71 points, UpCOM-Index increased by 0.41 points (+0.47%), to 87.56 points.

According to SHS Securities Company, the short-term trend of the market is still maintained at a positive level, but may retest the short-term support level.

SHS expects that after this fluctuation, VN-Index will continue to enter the expected medium-term accumulation area within the range of 1,150-1,250 points and the medium-term accumulation period in this area is forecast to last.

Meanwhile, Tan Viet Securities (TVSI) commented that the 1,130-1,150 point area is short-term support and is expected to be the area that helps the index recover strongly if there is a strong shake.

In the last trading session of the week, with the number of sectors that decreased points during the week still slightly dominating, the index is likely still unable to overcome the current resistance zone.

'Big guys' regain their position, 'tiny' stocks shock the stock market In 2023, the stock market recorded a number of outstanding stocks, causing fever and leaving impressions on investors.