Vinamilk, VinGroup to pay millions in cash dividends
Vinamilk, VinGroup to pay millions in cash dividends
Dairy giant Vinamilk (VNM) and property developer VinGroup (VIC) will spend trillions of dong paying dividends during the next two months.
Vinamilk plans to use more than VND1.66 trillion (US$79 million) to pay investors their first dividend of 20 per cent.
August 15 is the deadline for shareholders to register to participate in the payout, which will be made on September 5.
At the annual shareholders' meeting in April, the company pledged to pay no less than 50 per cent of total net profits this year in dividends.
The dairy producer has set a net profit target of VND6 trillion ($284 million) for the whole year, a decrease of 8.3 per cent year-on-year.
It plans to make the second payout on July 5, 2015.
Recently, Vinamilk's shareholders were upbeat on the news that the company planned a stock split to raise charter capital. Vinamilk will issue nearly 166.7 million shares, equivalent to nearly VND1.67 trillion ($79 million), to pay shareholders bonus shares at the rate of 20 per cent.
Apart from bonus shares, shareholders will enjoy cash dividend rate of 48 per cent for the business year of 2013.
Vinamilk's current charter capital is almost VND8.34 trillion ($395 million).
Despite this news, the company's shares declined 0.7 per cent yesterday to close the session at VND135,000 ($6.4).
In addition to Vinamilk, another member of the top 30 shares by market value and liquidity on the HCM City Stock Exchange, VinGroup (VIC) is expected to pay its shareholders a cash dividend at the rate of 21.49 per cent in August, equivalent to nearly VND2 trillion ($95 million).
VinGroup's accumulative profit by the end of 2013 reached VND7.728 trillion ($366 million). Shareholders must register to participate in the payout by August 8 and the payment will be made on August 20.
Last week, the group began construction of the exclusive Vinhomes Tan Cang urban complex in HCM City, which will cost up to VND30 trillion ($1.42 billion). VIC shares lost 1.4 per cent yesterday to end at VND72,000 ($3.41) a share.
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