International Dairy Products Joint Stock Company (code: IDP) announced the closing of the shareholder list for the first interim cash dividend payment of 2023 at a rate of 85%. The ex-dividend date is January 19, 2024.

With over 61.3 million shares outstanding, IDP is estimated to need to spend more than 521 billion VND for this dividend payment. The payment is scheduled for February 5th.

IDP shares officially began trading on the UpCom exchange at the beginning of 2021. For many years, IDP has consistently paid substantial dividends. Specifically, in 2021 IDP paid 90%, in 2022 60%, and in the first quarter of 2023 85%.

With such a payout, IDP is among the few companies with the highest dividend payouts across all three exchanges.

Not only is IDP generous with dividends, but in November 2023, the IDP Board of Directors also approved a plan to issue shares under the employee stock option program (ESOP) at a very favorable price.

Accordingly, IDP plans to issue 1.2 million ESOP shares in the first quarter of 2024 at a price of VND 10,000 per share, equivalent to VND 12 billion. At this issuance price, IDP shareholders and management will benefit 25 times more than the current market price of IDP shares, which is over VND 250,000 per share.

International Milk is known for its boxed milk brands Kun, Ba Vi, and LIF (love in farm).

Regarding business performance, in the third quarter of 2023, International Dairy Corporation recorded revenue of VND 1,646 billion, a slight increase of 1% compared to the same period last year. As a result, International Dairy Corporation achieved a net profit after tax of VND 255 billion, an increase of 33% compared to the same period last year.

For the first nine months of 2023, International Dairy's revenue and after-tax profit reached VND 4,978 billion and VND 708 billion respectively, representing increases of 13% and 10% compared to the same period last year.

In 2023, International Dairy planned for revenue of VND 7,141 billion and after-tax profit of VND 776 billion, representing increases of 17% and decreases of 4% respectively compared to 2022 results. Thus, the company had already achieved over 91% of its full-year profit target after only 9 months.

At the close of trading on January 11th, IDP shares reached 250,000 VND/share.

Business news

The stock market also has several other important events for companies listed on the exchange.

* CTS: On January 9th, Vietnam Industrial and Commercial Bank Securities Joint Stock Company continued to approve a resolution to borrow a maximum of VND 2,550 billion from Saigon VRG Investment Joint Stock Company for short-term loans.

* DXG: On January 9th, the Board of Directors of Dat Xanh Group Joint Stock Company approved the plan to borrow capital from banks with a total limit of VND 4,700 billion.

* TNS: Thong Nhat Steel Sheet and Plate Joint Stock Company is the first steel company to announce its Q4/2023 financial report, with a net profit of nearly 3 billion VND; production and consumption increased more than 5 times compared to the same period.

* MBS: MB Securities Joint Stock Company has just announced its Q4/2023 financial report with net profit 2.4 times higher than the same period last year, reaching nearly 173 billion VND.

* IDC: IDICO Corporation announces the closing of the shareholder list for the second interim dividend payment of 2023 in cash at a rate of 15%. The ex-dividend date is January 15th. The expected payment date is January 31st.

* SAF: Safoco Foodstuff Joint Stock Company announces the closing of the shareholder list for receiving an interim dividend for 2023 in cash at a rate of 30%. The ex-dividend date is January 23rd. The expected payment date is February 1st.

* RCC: Ms. Nguyen Thuy Linh, daughter-in-law of Mr. Ta Huu Dien - Chairman of the Board of Directors of Vietnam Railway Construction Corporation, registered to sell 1 million RCC shares between January 12th and 31st, through negotiated and order matching methods, in order to balance her personal finances.

* SJE: On January 9th, the Board of Directors of Song Da 11 Joint Stock Company approved a branch restructuring plan to establish three subsidiary companies operating in the construction sector: Song Da 11.1 Company Limited; Song Da 11.5 Company Limited; and Song Da 11 Company Limited in the South.

* CRE: Century Real Estate Joint Stock Company has been late in paying interest to bondholders on bonds issued to VNDirect Securities Joint Stock Company.

VN-Index

At the close of trading on January 11th, the VN-Index rose 0.68 points (+0.06%) to 1,162.22 points, the HNX-Index rose 1.3 points (+0.56%) to 232.71 points, and the UpCOM-Index rose 0.41 points (+0.47%) to 87.56 points.

According to SHS Securities Company, the short-term trend of the market remains positive, but it may retest the short-term support level.

SHS expects that after this period of volatility, the VN-Index will continue to move into the expected medium-term accumulation zone within the range of 1,150-1,250 points, and the medium-term accumulation period in this area is forecast to be prolonged.

Meanwhile, Tan Viet Securities (TVSI) believes that the 1,130-1,150 point range is short-term support and forecasts that this will be the area that helps the index recover strongly if strong fluctuations occur.

In the final trading session of the week, with the number of sectors experiencing declines still slightly outnumbering the index, it is highly likely that the index will not be able to break through the current resistance level.

'Big players' regain their position, 'tiny' stocks shock the stock market . In 2023, the stock market witnessed several outstanding stocks that caused a sensation and left a lasting impression on investors.