Vietnam government's investment arm SCIC receives $326 mln in dividends, profit distributions in 2024

The State Capital Investment Corporation (SCIC), Vietnam’s government investment arm, received VND8.5 trillion ($325.5 million) in dividends and profit distributions from 43 companies within its portfolio in 2024, according to its latest report.

Vinamilk (HoSE: VNM) was the largest contributor, paying SCIC nearly VND2.9 trillion ($111 million) in cash dividends across three tranches. SCIC remains the dairy giant’s largest shareholder, holding a 36% stake, or approximately 752.5 million shares.

Sabeco (HOSE: SAB) followed with almost VND2.54 trillion ($97.1 million) in dividend payouts. SCIC holds a 36% stake in the brewer.

DHG Pharma (HOSE: DHG) ranked third, distributing over VND651 billion ($24.89 million) to SCIC. The state-owned firm holds 43.31% of DHG, equivalent to around 56.6 million shares.

Notably, Vietnam INCO, a subsidiary of Vingroup (HOSE: VIC) and the developer of the Vinhomes Metropolis project in Hanoi, paid SCIC a cash dividend of VND600 billion ($22.9 million). SCIC holds a 30% stake in Vietnam INCO, which is tied to a 3.5-hectare land plot previously managed by the Russian embassy.

The Hanoi People’s Committee had assigned the land to Vietnam INCO for development, requiring coordination with SCIC to determine the state capital contribution to the project.

SCIC also reported that consolidated revenue from investment and capital operations rose 40% year-on-year to VND10 trillion ($382.3 million) in 2024.

Pre-tax profit surged 125% year-on-year to a record VND12.7 trillion ($486.4 million), while net profit jumped 134% to VND12.3 trillion ($472 million).