Asset manager Bill & Melinda Gates Foundation Trust, founded by billionaire Bill Gates, is set to receive VND9.88 billion (US$394,000) in cash dividends from food producer Masan Consumer.
The trust, which manages the assets of the charitable organization Bill & Melinda Gates Foundation, owns 1.04 million shares of Masan Consumer, which has announced that it would pay 2024 dividends at VND9,500 per share.
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Billionaire Bill Gates seen at an event in London, U.K., in February 2024. Photo by Reuters |
The Bill & Melinda Gates Foundation is funded by a number of investors including Gates and renowned investor Warren Buffet.
The trust managed $75.2 billion worth of assets by the end of last year.
It has been indirectly investing in Vietnam for years. It participates in the stock market through Vietnam Enterprise Investments Limited (VEIL), the largest investment fund in the country, managed by Dragon Capital.
As of late June, the trust was VEIL’s second-largest shareholder with nearly 24.7 million shares.
Masan Consumer produces chili sauce, fish sauce, instant coffee and other consumer products. It plans to spend VND6.9 trillion in paying dividends this year.
Its shares early next year are set to be transferred from Unlisted Public Company Market to the country’s biggest bourse, Ho Chi Minh Stock Exchange.
It posted VND5.5 trillion in post-tax profit in the first nine months, up 14% year-on-year.
