Vietnam miner Vimico to pay record 90.5% dividend after back-to-back profit highs

Vietnam National Minerals Corporation (Vimico) plans to pay a record 90.5% dividend for fiscal 2025 after posting two consecutive years of record earnings, combining a 40.5% cash payout with a 50% stock dividend.

The company, which trades on the Hanoi Stock Exchange under the ticker KSV, said July 15 would be the record date for shareholders eligible to receive the dividend, the highest since its listing in February 2023.

Under the plan, shareholders will receive a cash dividend of VND4,050 ($0.15) per share, equivalent to a payout ratio of 40.5%, with payment scheduled for August 5. Based on Vimico's charter capital of VND2 trillion ($75.94 million), the company is expected to distribute about VND810 billion ($30.76 million) in cash.

In addition, Vimico will issue bonus shares equivalent to 50% of existing holdings, with shareholders receiving 50 new shares for every 100 shares owned. The issuance of 100 million new shares will raise the company's charter capital to VND3 trillion ($113.92 million) from VND2 trillion.

State-owned Vietnam National Coal and Mineral Industries Group (Vinacomin or TKV), which owns 98% of Vimico, is expected to receive approximately 98 million new shares and about VND794 billion ($30.15 million) in cash dividends.

The generous payout follows two years of exceptional financial performance. Vimico reported record net profits of VND1.22 trillion ($46.29 million) in 2024 and nearly VND1.91 trillion ($72.45 million) in 2025, far exceeding the VND100-200 billion ($7.59 million) range typically recorded in earlier years.

As a result, the company's undistributed after-tax profit had risen to over VND2.55 trillion ($96.94 million) by the end of 2025, equivalent to 127.6% of its charter capital.

The momentum continued into the first quarter of 2026, with revenue climbing 71% year-on-year to over VND5.23 trillion ($198.7 milion) and net profit surging nearly threefold to VND896 billion ($34.02 million).

The earnings growth was driven by a sharp rise in prices of key metals, including gold, silver, copper, zinc and magnetite concentrate. Gold prices, in particular, increased from nearl VND1.35 billion ($51,190) per kilogram at the end of 2023 to nearl VND4.04 billion ($153,260) per kilogram by the end of the first quarter of 2026.

The strong financial results have fuelled a rally in Vimico's shares over the past two years. After climbing from around VND50,000 dong in late 2024 to a peak of VND278,500 in early 2025, the stock underwent a steep correction to about VND89,000 before recovering to trade at roughly VND150,000 ($5.7).