Vietnam Dividend Week Sep 21-25, 2026: CKA Pays 120% Cash, GAS 25%, VPB 26% Stock
This Aveluro analysis covers CKA on UPCOM in the Industrial Goods & Services sector. The classified event type is dividend announcement, with neutral sentiment and a deterministic market-impact score of 4.0/10. Source coverage came from CafeF - Thị trường chứng khoán, classified as a primary/top-tier source.
Key Facts
Caveat: Not investment advice. · How Aveluro computed this: Aveluro combines extracted event facts, source credibility, ticker context, and market data. Scores are deterministic research signals, not recommendations.
Overview
About 22 Vietnamese listed companies and banks are scheduled to finalize dividend rights between September 21 and September 25, 2026, with payout ratios spanning 1.62% to 120%. Cơ khí An Giang (CKA, UPCOM) carries the week’s highest ratio at 120% in cash, while PV Gas (GAS, HOSE) and VPBank (VPB, HOSE) anchor the large-cap end of the calendar. The cluster is concentrated on UPCoM, where smaller industrials and logistics names dominate.
Key Facts
- CKA (UPCOM) pays 2025 cash dividend of 120%, equal to VND 1,200 per share; record date September 21, 2026.
- CMP (UPCOM) pays the week’s lowest ratio at 1.62% cash, or VND 162 per share; record date September 24, 2026.
- GAS (HOSE) pays 2025 cash dividend of 25%, or VND 2,500 per share; record date September 23, 2026.
- VPB (HOSE) pays 2026 stock dividend of 26.04104%; holders of 10 million shares receive more than 2.6 million new shares; record date September 25, 2026.
- ICN (UPCOM) advances 2026 first-instalment cash dividend of 8%, or VND 800 per share; record date September 21, 2026.
- SEA (UPCOM) pays 2025 cash dividend of 5%, or VND 500 per share; record date September 22, 2026.
- TVN (UPCOM) pays 2025 cash dividend of 3%, or VND 300 per share; record date September 22, 2026.
What Happened
The schedule was compiled from exchange announcements covering the trading week of September 21-25, 2026, as reported by An ninh tiền tệ. Cơ khí An Giang, an industrial goods manufacturer listed on UPCoM, set the week’s ceiling with a 2025 cash dividend of 120%, meaning shareholders receive VND 1,200 for every share held. Cảng Chân Mây, a UPCoM-listed port operator, set the floor at 1.62%, or VND 162 per share. Both are cash distributions against 2025 earnings.
Mid-week, PV Gas confirmed a 25% cash dividend for 2025, or VND 2,500 per share, with a record date of September 23. VPBank’s distribution is the only large stock dividend in the group: a 26.04104% share issuance, under which an investor holding 10 million VPB shares would receive more than 2.6 million new shares, with the record date set for September 25. The remaining names on the calendar, including Idico Petroleum Construction (ICN), Seaprodex (SEA) and VNSteel (TVN), are UPCoM industrials and logistics firms paying smaller cash amounts.
Market Context
CKA last closed at 53,000 dong on September 20, 2026, putting the 120% cash payout at roughly 2.3% of the pre-record price. SEA closed at 70,000 dong and ICN at 24,900 dong on the same date; no recent close was provided for CMP, TVN, GAS or VPB. The calendar is heavily weighted toward UPCoM, the Hanoi-run exchange for unlisted public companies, where disclosure and liquidity standards differ from HOSE and HNX. GAS and VPB are the two HOSE-listed names in the group and the only ones large enough to register in index-level dividend yield calculations.
Strategic Significance
For income-focused investors, the week illustrates the gap between headline payout ratios and actual yield. CKA’s 120% ratio sounds exceptional but reflects a small UPCoM share base and a 53,000 dong price, while GAS’s 25% cash payout comes from a state-linked gas monopoly with a far deeper earnings base. VPB’s choice of stock over cash preserves bank capital against Basel-style buffers and dilutes existing holders modestly, a trade-off that matters more for long-term ownership than the nominal 26% figure. The UPCoM concentration also signals that smaller Vietnamese industrials are returning cash rather than reinvesting, which may reflect limited capex pipelines in steel, ports and seafood processing.
What to Watch
- Ex-dividend price adjustments for CKA, GAS and VPB on their respective record dates, September 21, 23 and 25, 2026.
- VPB’s post-issuance share count and any charter-capital update filed with the State Bank of Vietnam.
- GAS’s next cash-flow disclosure to confirm the 25% payout is covered by 2025 operating earnings.
- Further UPCoM dividend announcements for late September and October 2026, which would indicate whether the cash-return trend persists.
- Any foreign-ownership or liquidity filings for CKA, SEA or ICN around their record dates.