Vinamilk wants to increase cash dividend payments in 2024, possibly spending about VND9,000 billion

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

Vinamilk is one of the few companies that consistently pays high cash dividends annually - Photo: VNM

Vinamilk Joint Stock Company (VNM) announced that it will hold its 2025 annual general shareholders' meeting on April 25th.

One of the items to be discussed at this meeting is the dividend payout for 2024. Previously, Vinamilk's 2024 annual general meeting approved a plan to pay a cash dividend of 38.5% of par value, equivalent to VND 3,850 per share.

However, based on the current financial situation, Vinamilk's board of directors proposes that shareholders approve a cash dividend for 2024 of 43.5%, equivalent to VND 4,350 per share, an increase of VND 500 compared to the previously approved amount.

This is the highest dividend Vinamilk has paid to shareholders since 2018 (45%). According to Vinamilk, the dividend payment will be sourced from undistributed after-tax profits as shown in the company's financial statements.

Previously, the dairy giant had already paid out two interim dividends of 20% in September 2024 and February 2025, totaling 4,180 billion VND. The remaining amount will be paid by Vinamilk within six months from the end of the 2025 annual general meeting.

With over 2.089 billion shares outstanding, Vinamilk is expected to spend a total of over 9,000 billion VND on 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 consolidated after-tax profit plan for 2025.

The payment will also be sourced from undistributed after-tax profits as reported in the financial statements.

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

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

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

For 2025, Vinamilk is presenting to shareholders a plan to achieve revenue of VND 64,505 billion, a 4.3% increase compared to 2024, and after-tax profit of VND 9,680 billion, a 2.4% increase.

Additionally, at this general meeting, Vinamilk will propose the dismissal of Mr. Lee Meng Tat and Mr. Hoang Ngoc Thach, members of the board of directors. Previously, these two individuals submitted their resignations due to a change in the 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