Vinamilk wants to increase cash dividend payment in 2024, may spend about 9,000 billion VND

In the document submitted to this year's shareholders' meeting, Vinamilk wants to increase the cash dividend rate in 2024 to 43.5%, instead of the previously approved 38.5%.

Vinamilk is one of the few businesses that "diligently" pay high cash dividends every year - Photo: VNM

Vietnam Dairy Products Joint Stock Company - Vinamilk (VNM) said it will hold its 2025 annual general meeting of shareholders on April 25.

One of the issues to be discussed at this meeting is the 2024 dividend payment level. Previously, Vinamilk's 2024 annual general meeting of shareholders approved the 2024 cash dividend payment plan of 38.5% of par value, equivalent to VND3,850/share.

However, based on the current financial situation, Vinamilk's Board of Directors proposed that shareholders approve the 2024 cash dividend payment of 43.5%, equivalent to VND 4,350/share, an increase of VND 500 compared to the approved level.

This is the highest dividend that Vinamilk has paid to shareholders since 2018 (45%). According to Vinamilk, the source of dividend payment will be taken from undistributed after-tax profit on the company's financial report.

Previously, the dairy giant had paid 20% interim dividends twice in September 2024 and February 2025, with a total amount of VND4,180 billion paid. The remaining amount will be paid by Vinamilk within 6 months from the end of the 2025 annual meeting.

With more than 2,089 billion shares outstanding, Vinamilk is expected to spend a total of more than VND 9,000 billion to pay dividends for 2024.

In 2025, the board of directors will submit to the shareholders' meeting for approval a minimum cash dividend equal to 50% of the 2025 consolidated after-tax profit plan.

The source of payment will also be taken from undistributed profit after tax on the financial statement.

According to the 2024 annual report, Vietnam's largest dairy company has 20 major shareholders.

The largest shareholder is SCIC, holding 36% of capital, followed by F&N Dairy Investments Pte, Ltd, holding 17.7% of capital, and Platinum Victory Pte, holding 10.6%. The remaining shareholders only hold 0.3 - 2.7%.

Regarding Vinamilk's business situation, the 2024 audited report recorded revenue of VND 61,823 billion, an increase of 2.2% compared to 2023 and profit after tax of VND 9,452 billion, an increase of 4.8%.

In 2025, Vinamilk submitted to shareholders for approval a revenue plan of VND 64,505 billion, an increase of 4.3% compared to 2024, and a profit after tax of VND 9,680 billion, an increase of 2.4%.

In addition, at this congress, Vinamilk will submit for approval the dismissal of Mr. Lee Meng Tat and Mr. Hoang Ngoc Thach - members of the board of directors. Previously, these two had submitted resignations due to the change of representative of the major shareholder.

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Source: https://tuoitre.vn/vinamilk-muon-tang-muc-tra-co-tuc-bang-tien-nam-2024-co-the-chi-khoang-9-000-ti-dong-20250329145240719.htm