Vinamilk rises to 10-month high after dividend plan

Vietnam Dairy Products Joint-Stock Company (VNM)the country’s fifth-largest company by market value, rose to its highest point in more than 10 months after announcing it will pay a dividend next month.

The shares rallied for a fifth straight day, adding 2.7 percent, to close at VND115,000, the highest since September 4, on the Ho Chi Minh Stock Exchange. The benchmark VN-Index fell for a sixth day to 418.55 points, its longest losing streak since February.

Ho Chi Minh City-based producer of milk, yoghurt, ice cream and cheese said it will pay a dividend of VND2,000 (11 cents) a share on August 5, according to a company filing on the exchange’s website after the market closed Monday.

The company last paid a dividend of VND1,000 a share in May 2008.

thanhnien, bloomberg

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