Vinamilk to make dividend payments

The Vietnam Dairy Products Joint Stock Company (Vinamilk) will pay VND2.6 trillion (US$112.3 million) for the remainder of the 2018 dividend payout on June 26.

The list of beneficiary shareholders will be finalised on June 6.

The upcoming dividend payout rate is 15 per cent, meaning every shareholder will receive VND1,500 per share.Vinamilk is listing 1.74 billion shares on the Ho Chi Minh Stock Exchange under code VNM.

In 2018, Vinamilk earned VND52.5 trillion in total revenue, up 3 per cent year-on-year, and VND10.26 trillion in profit, slightly down from 2017.

At the firm’s annual shareholder meeting in late April, the company gained approval on a 45 per cent dividend payout rate for 2018.

The first 30 per cent dividend payout was paid in late February 2019 and late September 2018.

In 2019, the company targets VND56.3 trillion in total revenue, up 7 per cent from last year, and VND10.5 trillion in total post-tax profit, up 2.5 per cent.

The dividend payout rate for 2019 has been set at 50 per cent. It will be paid in September 2019 and February 2020. The third payment will be decided by shareholders at a2020 annual shareholder meeting.

Vinamilk shares lost 1.5 per cent to end Friday at VND129,500 per share. — VNS