Thai shareholder to pocket $22.7 mln as Binh Minh Plastics pays dividends of 126%
Major shareholder Nawaplastic Industries, a member of Thailand’s Siam Cement Group (SCG), will receive over VND567 billion ($22.65 million) in cash as Binh Minh Plastics JSC plans to devote up to 99% of its 2023 after-tax profit to dividends at a rate of 126%.

Products of Binh Minh Platics JSC. Photo courtesy of the company.
The firm, listed on the Ho Chi Minh Stock Exchange as BMP, said it will present the 2023 dividend payment plan to shareholders for approval at the upcoming AGM.
With a rate of 126%, the BMP shareholders will bag VND12,600 ($0.5) per share.
In November 2023, the company advanced dividends at a rate of 65%, equivalent to over VND532 billion ($21.22 million). If approved, BMP will pay the remaining 61%, about VND499 billion.
The decision was made after Binh Minh Plastics posted record after-tax profit of VND1.04 trillion ($41.5 million) in 2023, 1.5 times higher than the previous year. The dividend rate of 126% is also the highest level since the company listed its shares on the stock market in 2006.
Holding a 55% stake in the firm, the Thai shareholder is expected to pocket nearly VND2 trillion ($80 million) after 12 years of investment. SCG has spent over VND2.8 trillion on four acquisitions of BMP shares.
Closing the Friday session, BMP hit a new peak of VND120,300 ($4.8) a share, an increase of 35% after four months. The company’s market capitalization also set a record of nearly VND10 trillion ($399 million).
This year, the leading plastic maker is targeting revenue of VND5.54 trillion ($221 million), up 6.5% from 2023, and after-tax profit of VND1.03 trillion, nearly the same as last year’s figure. The board of directors is also aiming to spend at least 50% of after-tax profit to pay dividends.
Binh Minh Plastics was established in 1977 as a state-owned company under the Ministry of Light Industry. It was equitized in 2004 and was officially listed on the Ho Chi Minh City Stock Exchange (HoSE) as BMP two years later.
In April 2018, SCG of Thailand announced that its subsidiary Nawaplastic Industries had increased its stake in the company to 50.9%. Since the acquisition, Binh Minh Plastics has continued to report huge profits.
Currently, SCG is involved in about 20 businesses operating in the plastic and packaging industry in Vietnam, including several big names like Binh Minh, Duy Tan, and Tin Thanh.
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