Dien May Xanh (DMX) Declares 40% Cash Dividend Post-Listing

Overview

Dien May Xanh (DMX), a leading Vietnamese electronics retailer, has announced a 40% cash dividend (4,000 VND per share) with a total payout exceeding 5,000 billion VND. The record date was set for August 19, 2026, shortly after the company’s listing on the Ho Chi Minh Stock Exchange (HOSE). The announcement comes alongside strong operational results, including a 29% year-on-year increase in net revenue for the first seven months of 2026.

Key Facts

• Cash dividend rate: 40% (4,000 VND per share), record date August 19, 2026.
• Total dividend payout: over 5,000 billion VND, sourced from accumulated undistributed after-tax profits as of end-2025.
• 7-month 2026 net revenue: 75,474 billion VND, up 29% year-on-year, achieving 62% of the full-year plan.
• Full-year 2026 after-tax profit target: over 10,000 billion VND, exceeding the initial commitment of 7,350 billion VND.
• Same-store sales growth (SSSG) in the first two quarters: 32%, with gross margin expanding to 20.1%.
• Financial services ecosystem: buy-now-pay-later contributes 38% of revenue; over 3,000 points of sale processed 36 million transactions totaling 56,000 billion VND.
• After-sales services subsidiary (Thợ Điện máy Xanh) generated 1,892 billion VND in revenue in H1 2026, up 47%, including 195 billion VND from external customers.

What Happened

Dien May Xanh (DMX) completed the record date for its first cash dividend payment on August 19, 2026, just after its listing on HOSE. The company will pay a 40% cash dividend (4,000 VND per share), with total disbursement exceeding 5,000 billion VND. The payout is funded from accumulated retained earnings as of the end of 2025, reflecting the company’s strong cash generation.

CEO Đoàn Văn Hiểu Em disclosed that net revenue for the first seven months of 2026 reached 75,474 billion VND, up 29% year-on-year, and completed 62% of the full-year plan. Management expects Q3 results to be even stronger than the average of the first two quarters. The company has set a full-year 2026 after-tax profit target of over 10,000 billion VND, a record level and well above the initial commitment of 7,350 billion VND.

The dividend announcement and revenue figures were shared in a company statement and press conference, highlighting the firm’s shift from a one-time transaction model to a customer lifecycle approach, supported by five strategic pillars.

Market Context

DMX trades on UPCOM (though the article mentions a HOSE listing; the metadata indicates UPCOM, so we note the exchange as UPCOM) and closed at 79,700 VND on August 21, 2026. The stock has likely attracted attention due to the high dividend yield and robust growth. The Vietnamese retail sector has been benefiting from strong domestic consumption, and DMX’s performance aligns with this trend. The dividend announcement, combined with revenue growth, positions DMX as a cash-generative player in the electronics retail space.

Strategic Significance

For long-term investors, DMX’s large cash dividend signals confidence in its cash flow sustainability and financial health. The company’s strategic shift toward customer lifecycle services, including financial services and after-sales care, diversifies revenue streams and enhances margins. The target of over 10,000 billion VND in after-tax profit for 2026 indicates management’s optimism about continued growth. This could make DMX an attractive income and growth play in Vietnam’s retail sector, provided it maintains operational momentum.

What to Watch

• Q3 2026 earnings release, expected to confirm stronger results than the first half.
• Full-year 2026 profit achievement versus the 10,000 billion VND target.
• Expansion of after-sales services and B2B revenue contribution.
• Growth in Super App membership and its impact on customer retention.
• Any regulatory or competitive developments in the electronics retail market.