Dien May Xanh (DMX) Declares 40% Cash Dividend, Payout Over VND 5,000B

Overview

Dien May Xanh (DMX), listed on UPCOM, has announced a 40% cash dividend (4,000 VND per share) with a total payout exceeding VND 5,000 billion, reinforcing its financial strength. The company also reported robust 7-month revenue growth of 29% year-on-year, positioning itself for a record-breaking 2026.

Key Facts

• Cash dividend rate: 40% (4,000 VND per share), record date August 19, 2026.
• Total dividend payout: over VND 5,000 billion, sourced from accumulated after-tax profits through end-2025.
• 7-month 2026 net revenue: VND 75,474 billion, up 29% YoY, achieving 62% of full-year plan.
• Full-year 2026 net profit target: over VND 10,000 billion, exceeding initial commitment of VND 7,350 billion.
• Same-store sales growth (SSSG) in first two quarters: 32%, with gross margin expanding to 20.1%.
• After-sales services revenue (6 months): VND 1,892 billion, up 47%, including VND 195 billion from external customers.
• EraBlue Indonesia JV: revenue of IDR 1,888 billion (+92%), after-tax profit up 154%, fully clearing accumulated losses.

What Happened

Dien May Xanh (DMX) has finalized the shareholder list for its 40% cash dividend, equivalent to 4,000 VND per share, with the record date set for August 19, 2026. The total payout exceeds VND 5,000 billion, drawn directly from the company’s accumulated undistributed after-tax profits as of end-2025. The swift execution of the dividend underscores the company’s strong cash flow management and financial health.

CEO Đoàn Văn Hiểu Em revealed that 7-month 2026 net revenue reached VND 75,474 billion, a 29% increase year-on-year, completing 62% of the annual plan. Management expects Q3 results to outperform the first two quarters’ average, targeting a record full-year net profit above VND 10,000 billion—well above the initial commitment of VND 7,350 billion. The company attributes this performance to a strategic shift from one-time sales to a customer lifecycle service model, built on five strategic pillars.

Market Context

DMX closed at VND 79,700 on August 21, 2026, reflecting positive market sentiment around the dividend announcement and strong operational results. As a retail sector player on UPCOM, DMX’s performance contrasts with broader market trends, highlighting its robust growth trajectory. The dividend yield of approximately 40% (based on the announced rate) is notably high, attracting investor attention in a market where cash dividends are valued.

Strategic Significance

The dividend declaration and strong revenue growth signal DMX’s transition to a cash-generative business model, supported by diversified revenue streams including financial services, after-sales services, and international expansion via EraBlue in Indonesia. The company’s focus on same-store sales growth and margin expansion indicates a mature operational strategy, while the after-sales services spin-off into a separate profit center demonstrates innovative monetization. The record profit target for 2026 suggests management confidence in sustained momentum, making DMX a potential long-term value proposition in Vietnam’s retail sector.

What to Watch

• Q3 2026 earnings release, expected to show continued revenue and profit growth.
• Progress of EraBlue Indonesia JV, particularly revenue and profitability trends.
• Expansion of after-sales services revenue from external customers.
• Any updates on the Super App user base and its contribution to customer engagement.
• Management’s guidance for 2027 and potential further dividend announcements.