ACE Cement Dividend 2025: 40% Cash Payout, 4,000 VND/Share

Overview

Bê tông Ly tâm An Giang (ACE) has announced a final cash dividend of 30% for fiscal year 2025, bringing the total 2025 cash dividend to 40%, or 4,000 VND per share. The payout will be made in two installments in September and October 2026. The company also plans an extraordinary shareholder meeting to approve board changes, including the resignation of Chairman Trần Anh Tấn.

Key Facts

• ACE will pay a final dividend of 30% (3,000 VND/share) for 2025, split into two installments: 15% (1,500 VND/share) on September 15, 2026, and 15% (1,500 VND/share) on October 15, 2026.
• Total cash dividend for 2025 reaches 40% (4,000 VND/share), including an earlier interim dividend of 10% (1,000 VND/share).
• With 3.05 million shares outstanding, the total payout for the two final installments is approximately 9.15 billion VND.
• The record date for the dividend and extraordinary shareholder meeting is September 3, 2026.
• The extraordinary shareholder meeting is scheduled for October 1, 2026, to approve the dismissal of a board member and election of a new one.
• Chairman Trần Anh Tấn has resigned, effective at the extraordinary meeting, due to the termination of his role as capital representative for Tổng công ty Cổ phần Xây dựng Công nghiệp Việt Nam.
• ACE has maintained regular cash dividends since 2009, with payout ratios typically ranging from 35% to 45% over the past decade.

What Happened

ACE announced a final cash dividend of 30% for fiscal year 2025, with payments scheduled for September 15 and October 15, 2026. The company will pay 1,500 VND per share in each installment, totaling 3,000 VND per share. Combined with the earlier interim dividend of 10% (1,000 VND/share), the total 2025 cash dividend reaches 40%, or 4,000 VND per share.

The company also announced an extraordinary shareholder meeting on October 1, 2026, to address board changes. Chairman Trần Anh Tấn has submitted his resignation, effective at the meeting, as he will no longer serve as the capital representative for Tổng công ty Cổ phần Xây dựng Công nghiệp Việt Nam. The meeting will also consider the dismissal of one board member and the election of a new one.

Market Context

ACE shares closed at 36,600 VND on August 12, 2026, on the UPCOM exchange. At this price, the 4,000 VND cash dividend implies a yield of approximately 10.9%, which is notably high compared to the broader Vietnamese market. The company’s consistent dividend policy, with payout ratios between 35% and 45% over the past decade, reflects its stable cash flow generation in the construction materials sector, despite the cyclical nature of the industry.

Strategic Significance

ACE’s sustained high cash dividend payout underscores its mature business model and disciplined capital allocation. The company, which produces industrial concrete products such as electric poles, centrifugal concrete piles, and culverts, has maintained profitability and cash generation over many years. The upcoming board changes, including the resignation of Chairman Trần Anh Tấn, may signal a shift in ownership or strategic direction, but the dividend policy suggests continuity in shareholder returns. For long-term investors, the key question is whether the new board will maintain the same payout discipline and operational focus.

What to Watch

• Approval of the board changes at the extraordinary shareholder meeting on October 1, 2026, and the appointment of a new chairman.
• Any updates on the company’s order book and revenue outlook for 2026, given the cyclical nature of construction materials.
• The company’s interim financial results for 2026, which will indicate whether cash flow remains sufficient to sustain future dividends.
• Any changes in dividend policy or capital expenditure plans announced by the new board.
• The company’s ability to maintain its historical payout ratio of 35-45% in the coming years.