Habeco (BHN) Declares 28.4% Cash Dividend, Payout ~658B VND

Overview

Habeco (BHN), the century-old Hanoi-based brewer, has announced a cash dividend for fiscal years 2024 and 2025 at a combined rate of 28.4%, equivalent to 2,840 VND per share. The total payout will amount to approximately 658 billion VND, with the record date set for September 16 and payment expected on October 16. The announcement comes alongside strong first-half results, with net profit surging 73% year-on-year.

Key Facts

• Combined dividend rate for 2024 and 2025: 28.4% (2,840 VND/share).
• Total cash payout: approximately 658 billion VND.
• Record date: September 16; ex-right date: September 15; payment date: October 16.
• Dividend breakdown: 13.2% (1,320 VND/share) for 2024 and 15.2% (1,520 VND/share) for 2025.
• Q2 2026 net revenue: 2,835 billion VND, up over 20% YoY.
• Q2 2026 net profit: 240 billion VND, up 50% YoY.
• H1 2026 net profit: 311 billion VND, up 73% YoY, achieving 61% of revenue target and exceeding full-year profit target.

What Happened

The Board of Directors of Tổng CTCP Bia - Rượu - Nước giải khát Hà Nội (Habeco, ticker: BHN) has approved a cash dividend payment for both 2024 and 2025. The company will pay 1,320 VND per share for 2024 and 1,520 VND per share for 2025, totaling 2,840 VND per share. The record date is September 16, with the ex-right date on September 15 and payment scheduled for October 16.

Habeco also reported robust business results for the second quarter of 2026. Net revenue reached 2,835 billion VND, up more than 20% year-on-year, while net profit rose 50% to 240 billion VND. For the first half of 2026, net revenue totaled 4,765 billion VND and net profit reached 311 billion VND, increases of approximately 25% and 73% respectively. The company achieved about 61% of its full-year revenue target and already exceeded its net profit target of 212.6 billion VND set at the annual general meeting.

Market Context

BHN trades on the Ho Chi Minh Stock Exchange (HOSE) and closed at 29,650 VND on August 24, 2026. The dividend announcement implies a yield of approximately 9.6% based on the current price, which is attractive in the Vietnamese consumer staples sector. The company’s strong first-half performance contrasts with its cautious full-year guidance, reflecting management’s prudence amid rising costs and weak consumer demand. The stock has likely benefited from the positive earnings momentum, though the market’s reaction to the dividend will depend on the ex-date and overall sentiment.

Strategic Significance

Habeco’s decision to pay out a substantial dividend—nearly 658 billion VND—signals confidence in its cash flow generation despite a conservative profit outlook. The company, founded in 1890, remains a dominant player in the northern and north-central beer markets. The strong H1 results, driven by revenue growth and margin expansion, suggest that Habeco is effectively navigating cost pressures. For long-term investors, the dividend underscores the company’s commitment to shareholder returns, while the earnings beat indicates operational resilience. However, the low full-year profit target hints at potential headwinds in the second half, including input cost inflation and softer consumer spending.

What to Watch

• Q3 2026 earnings release, expected in October, to see if momentum continues.
• Management commentary on cost pressures and consumer demand in the second half.
• Any changes to the 2026 full-year guidance, especially if profit exceeds the target.
• Market reaction around the ex-dividend date (September 15) and payment date (October 16).
• Updates on the competitive landscape in the northern beer market, including any pricing actions by rivals.