DIC Corp (DIG) Approves 6% Stock Dividend, H1 Profit Surges 9x

Overview

DIC Corp (DIG), listed on HOSE, has approved a 6% stock dividend for 2025, issuing 47.7 million new shares. The company also reported robust H1 2026 results, with revenue up 78% and pretax profit up 9x year-on-year, signaling a turnaround in its real estate operations.

Key Facts

• DIC Corp (DIG) approved a 6% stock dividend, issuing 47.7 million new shares.
• Shareholders receive 6 new shares for every 100 shares held; implementation expected in Q3 2026.
• The dividend is funded from retained earnings after tax per the 2025 audited financial statements.
• Post-issuance, DIG’s charter capital will rise from VND 7,964.3 billion to VND 8,442.1 billion.
• H1 2026 revenue reached VND 758 billion, up 78% YoY; pretax profit hit VND 146 billion, up 9x YoY.
• Q2 2026 revenue was VND 613 billion (2.2x YoY), but gross profit fell 60% to VND 42 billion due to higher costs.
• DIG approved transfers of land parcels in the Đại Phước project to DCP Châu Á and Quốc tế Việt Nét.

What Happened

DIC Corp (DIG) announced via a board resolution that it will issue shares for a 6% stock dividend, equivalent to 47.7 million new shares. The issuance will be funded from undistributed after-tax profits as of the 2025 audited financial statements, with execution targeted for Q3 2026. This will increase the company’s charter capital from VND 7,964.3 billion to VND 8,442.1 billion.

In addition, DIG reported consolidated Q2 2026 results: net revenue of VND 613 billion (2.2x YoY), but gross profit fell over 60% to VND 42 billion due to a 3.4x surge in cost of goods sold. However, financial income jumped to VND 116 billion, and profit from associates rose nearly 6x to over VND 40 billion, helping pretax profit reach VND 156 billion (3x YoY). For H1 2026, revenue was VND 758 billion and pretax profit VND 146 billion, up 78% and 9x YoY respectively.

The company also approved the transfer of land parcels in the Đại Phước eco-tourism urban area: 134,303 m² in Sub-zone 8 to DCP Châu Á, and 19,110 m² in Sub-zones 1, 2, 3 to Quốc tế Việt Nét.

Market Context

DIG shares closed at VND 10,700 on August 4, 2026, reflecting a market capitalization of roughly VND 8.5 trillion. The stock has been volatile amid the real estate sector’s recovery, with DIG focusing on project transfers and asset monetization. The H1 results show a sharp profit rebound, but the company has only achieved 25% of its full-year revenue target (VND 3,000 billion) and 24% of its profit target (VND 600 billion), indicating a back-loaded year.

Strategic Significance

DIG’s stock dividend signals management’s confidence in retained earnings and aims to reward shareholders while preserving cash for project development. The Đại Phước land transfers are part of a strategy to divest non-core assets and generate cash, aligning with the broader trend among Vietnamese developers to deleverage. The strong H1 profit growth, driven by financial income and associates, suggests a turnaround, but sustainability depends on core project sales and cost control. For long-term investors, the key is whether DIG can meet its ambitious full-year targets and execute its project pipeline.

What to Watch

• Q3 2026 earnings release (expected October 2026) to see if revenue and profit momentum continues.
• Completion of the stock dividend issuance and capital increase to VND 8,442.1 billion.
• Progress on Đại Phước project transfers and any new divestment deals.
• Updates on the company’s land bank development and sales bookings.
• Regulatory approvals for the dividend issuance and project transfers.