Foreign shareholders to gain big from Vinamilk’s upcoming dividend payout
A host of notable foreign shareholders are set to receive hefty cash dividends from Vinamilk, the largest dairy firm in Vietnam.
Vinamilk (HoSE: VNM) has announced a decision to pay cash a dividend of VND2,450 (9.8 U.S. cents) a share on the record as of September 25, including VND950 in the last interim dividend for 2023 and an interim dividend of VND1,500 for 2024.
Customers shop at a Vinamilk store. Photo courtesy of VOV.
With nearly 2.1 billion outstanding shares, the company will spend VND5,145 billion ($205.66 million) on the upcoming dividend payout.
Overseas investors now own 51.55% stake in Vinamilk, according to financial data provider Vietstock.vn. There is no cap on foreign ownership in the company.
Among the largest foreign shareholders, F&N Dairy Investment Private Limited, controlled by Thai billionaire Charoen Sirivadhanabhakdi, will collect VND905 billion ($36.2 million) for holding a 17.69% stake.
Meanwhile, Platinum Victory Pte. Ptd., which owns 10,62%, will rake in VND543 billion ($21.7 million). F&N Bev Manufacturing Pte. Ltd., with a 2.7% stake, will receive VND138.3 billion.
Besides, the firm has other significant shareholders: Deutsche Bank (2.19%), Fubon FTSE Vietnam ETF (1.28%), Employees Provident Fund Board (1.27%), Matthews Pacific Tiger Fund (0.86%), and VanEck Vietnam ETF ($0.72%), according to the latest data from Saigon Securities Inc. (HoSE: SSI).
State Capital Investment Corporation (SCIC), the government’s investment arm, which is now the largest shareholder with 36%, will receive VND1,843 billion ($73.67 million).
As such, for the whole of 2023, Vinamilk is estimated to spend VND8,046 billion ($321.6 million) on dividend payouts, or 91% of the firm’s 2023 consolidated net profit.
For 2024, the dairy firm plans to spend the same cash dividend at a 38.5% ratio, equivalent to VND3,850 ($0.15) a share.
It earned an audited consolidated net profit of VND4,865 billion ($194.5 million) on revenue of VND30,768 billion in H1/2024, up 20% and 5.7% year-on-year, respectively, its quarterly financial statements show.
VNM shares closed up 1% at VND74,900 ($3) each on Friday.
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