Dien May Xanh (DMX) Debuts on HoSE with 40% Cash Dividend

Overview

Dien May Xanh (DMX) made its official debut on the Ho Chi Minh City Stock Exchange (HoSE) on August 6, 2026, with nearly 1.3 billion shares. The company immediately announced a 40% cash dividend (4,000 VND per share) with the record date set for August 19 and payment starting August 26, 2026. This marks the independent listing of the consumer electronics retail arm, backed by strong H1 2026 results.

Key Facts

• DMX listed on HoSE on August 6, 2026, with approximately 1.3 billion shares.
• Cash dividend of 40% (4,000 VND/share) declared, with record date August 19 and payment from August 26, 2026.
• Total cash dividends of 8,000 VND/share planned within 12 months, implying a 10% yield on the IPO price of 80,000 VND/share.
• Additional dividends: 2,000 VND/share interim in December 2026 and 2,000 VND/share after the April 2027 AGM.
• Bonus share plan under consideration at 1:1 ratio, combining share premium and capital surplus.
• H1 2026 net revenue reached 65,280 billion VND, up 27% year-on-year.
• H1 2026 net profit was 4,876 billion VND, up 73% year-on-year, completing 66% of the full-year target.
• Cash and short-term financial investments totaled 44,670 billion VND as of June 30, 2026.

What Happened

Dien May Xanh (DMX) officially began trading on HoSE on the morning of August 6, 2026, marking the independent listing of the consumer electronics and mobile phone retail business. The company wasted no time in rewarding shareholders, announcing a 40% cash dividend (4,000 VND per share) with the record date set for August 19 and payment starting August 26, 2026. The total payout exceeds 5,000 billion VND, funded from accumulated after-tax profits through 2025.

Management stated this is just the beginning. Over the next 12 months, shareholders could receive up to 8,000 VND per share in cash dividends, equivalent to a 10% yield on the IPO price of 80,000 VND. The schedule includes an interim dividend of 2,000 VND/share in December 2026 and a final dividend of 2,000 VND/share after the April 2027 annual general meeting. Additionally, a 1:1 bonus share plan is under consideration, combining share premium and capital surplus.

Market Context

DMX, previously traded on UPCOM, now joins the HoSE main board, a move that typically enhances liquidity and visibility. The stock’s IPO price of 80,000 VND implies a market capitalization of over 100 trillion VND, making it one of the largest retail listings. The 10% dividend yield is notably attractive compared to the average market yield of around 10% and bank deposit rates of 5-7%. The company’s strong cash position of 44,670 billion VND supports the payout, and its H1 2026 profit growth of 73% outpaces many peers in the retail sector.

Strategic Significance

The listing of DMX on HoSE provides investors with direct exposure to Vietnam’s consumer electronics retail market, which is consolidating. The company’s aggressive dividend policy signals confidence in its cash flow generation and financial health. The 1:1 bonus share plan, if executed, would increase share count but also reflect retained earnings strength. For long-term investors, DMX offers a rare combination of high growth (73% profit growth) and high dividend yield, positioning it as a potential income-growth play in the Vietnamese retail sector.

What to Watch

• Execution of the August 2026 dividend payment and any adjustments to the schedule.
• Q3 2026 earnings release to confirm sustained revenue and profit momentum.
• Approval and details of the 1:1 bonus share plan at the next shareholder meeting.
• Progress on the December 2026 interim dividend and April 2027 final dividend.
• Any regulatory or competitive developments in the consumer electronics retail market.