Vinamilk Advances to Record on Dividend Payout Plan: Hanoi Mover

Aug. 9 (Bloomberg) -- Vietnam Dairy Products Joint-Stock Co., the nation’s biggest listed dairy producer, advanced to a record in Ho Chi Minh City trading after the company said it will pay a dividend next month.

Vinamilk, as the company is known, climbed 2.9 percent to 105,000 dong at the 2:15 p.m. local-time close. The benchmark VN Index added 0.8 percent. The shares gained 12 percent last week.

The company will pay shareholders a dividend of 2,000 dong a share on Sept. 6, it said in a statement filed on the Ho Chi Minh City Stock Exchange’s website today.

The dividend is “attractive to investors,” said Vu Hoang Viet, a Ho Chi Minh City-based analyst at Viet Capital Securities Co. “Now is the chance for investors to buy more shares to receive more cash dividends.”

Vinamilk said in a statement last week it’s also seeking approval from shareholders to issue 278 million bonus shares in December or January.

To contact Bloomberg News staff for this story: Nguyen Kieu Giang in Hanoi at giang1@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net