The owner of Kun dairy company distributed a heavy dividend before Tet

LOF International Dairy Joint Stock Company (IDP) announced the last registration date to receive the first cash dividend advance of 2024 on January 7. After that, the company will pay on January 20 at a rate of 50%, meaning each share will receive 5,000 VND. With more than 61.8 million outstanding shares, it is estimated that this business needs to spend more than 309 billion VND to give “lucky money” to shareholders before Tet.

LOF pays heavy dividends after reporting record profits in the third quarter of 2024. Their profit after tax reached nearly 300 billion VND, up 18% over the same period – the highest quarterly profit in operating history.

Accumulated for the first 9 months of last year, the company recorded 5,563 billion VND in revenue and about 811 billion VND in profit after tax, an increase of 12% and 15% respectively. They completed 95% of the high profit plan (950 billion VND).

Recently, LOF also approved a plan to invest nearly 1.5 million USD (about 38 billion VND) in a dairy business project in the Philippines. The main objective is to wholesale beverages, milk and dairy products. All investment capital will come from equity.

In the past, this business regularly paid dividends at a fairly high rate. In 2023, they pay cash dividends of 8,500 VND per share. Previously, the company also divided at the rate of 60-90% per year.

LOF International Dairy was established 20 years ago, known as the owner of the Kun, LOF, LIF milk brands… The company expects that in the next 5 years, sales will double and in the long term they can reach revenue milestones. billion USD. They plan a strategy to launch new products to enrich their product portfolio, and open new headquarters in Southeast Asia in addition to the two existing markets of Cambodia and Indonesia.

On the stock market, IDP shares trade around 235,000 VND per unit. This level has adjusted about 15% compared to the peak in mid-June 2024.