July dividend wave hits Vietnamese market following AGM season
Ending the 2025 AGM season, a series of Vietnamese companies have announced dates for finalizing the list of shareholders eligible for dividends in July.

Shareholders register to attend the 2025 AGM of FPT Retail in Ho Chi Minh City on April 25, 2025. Photo courtesy of the company.
The most notable is the hefty cash dividend of VND11,000 ($0.42) per share, or 110%, from Ha Long Beer and Beverage JSC, registered on the Unlisted Public Companies Market (UPCoM) as HLB. The record date is July 16, and the payment date is set for July 25.
Historically, Ha Long Beer has consistently paid high cash dividends to its shareholders, with a 200% payout in 2018, 150% in 2022, and 90% in 2023.
At this year’s AGM, Petrovietnam Fertilizer and Chemicals Corporation, listed on the Ho Chi Minh Stock Exchange (HoSE) as DPM, excited shareholders with its plan to distribute a record-high payout of 88.7%.
Specifically, it will pay a 15% cash dividend (equivalent to VND1,500 or nearly $0.06 per share) and issue bonus shares at a 73.7% ratio (shareholders will receive 737 new shares for every 1,000 they hold) from the development investment fund.
The company recently announced that July 16 is the record date for the 2024 cash dividend, also at 15%. The payment date is scheduled for September 3, with a total of VND587 billion ($22.47 million). For 2025, DPM plans to pay a 12% cash dividend, based on a projected charter capital of VND6.8 trillion ($260.46 million).
Its bonus share plan is expected to be implemented in 2025, once the State Securities Commission confirms receipt of all issuance documents.
In June, other fertilizer companies like Ca Mau Fertilizer (HoSE: DCM) and Lam Thao Superphosphate and Chemicals, listed on the Hanoi Stock Exchange as LAS, also finalized their shareholder lists for the 2024 dividend payouts, to be executed in July.
On July 23, Southern Airports Services JSC – Sasco (UPCoM: SAS) will finalize its shareholder list for the second 2024 cash dividend payment at 22.09% (equivalent to VND2,209 or nearly $0.09 per share), with payment on August 5.
According to the dividend plan approved by shareholders, the company, chaired by Johnathan Hanh Nguyen, will pay a total 2024 cash dividend of 28.09%, equating to VND375 billion ($14.35 million). A 6% advance was paid in September last year.
Although Sasco has not announced a specific dividend plan for 2025, the company plans to make a 6% advance this year, similar to 2024, with timing to be decided by the board of directors.
FPT Retail (HoSE: FRT), a subsidiary of tech giant FPT Corp., also drew attention with its 25% stock dividend. July 17 is the record date for shareholder eligibility. The company plans to issue over 34 million shares, increasing its charter capital to VND1.7 trillion ($65 million).
For the first time in 14 years, shareholders of shipping major Vinaship (UPCoM: VNA) will receive a cash dividend. The record date is July 15, with a 6% dividend payout scheduled for October 20.
Vinaship had paid 20% cash dividends in 2008 and 2010. However, from 2011 to 2023, dividend payments were halted due to financial difficulties. In 2024, the company issued bonus shares at a 70% rate and is now able to resume cash dividends.
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