HLB Announces 125% Cash Dividend for 2025, Stock Trades at 450,000 VND with Near-Zero Liquidity

Overview

Ha Long Beer and Beverage (HLB) has announced a 125% cash dividend for 2025, equivalent to 12,500 VND per share, with a record date of June 18, 2026, and payment on June 26, 2026. The stock trades at 450,000 VND on UPCOM but has near-zero liquidity due to concentrated ownership by foreign institutional investors and the founding family. The dividend payout of 38.6 billion VND represents 24.8% of 2025 net profit.

Key Facts

• HLB declared a 125% cash dividend for 2025, paying 12,500 VND per share.
• Record date: June 18, 2026; payment date: June 26, 2026.
• Stock closed at 450,000 VND on June 3, 2026, with zero trading volume.
• Over the past three months, daily trading volume ranged from a few hundred to under 2,000 shares.
• Foreign shareholder Aseed Holdings Co., Ltd owns 30.42% of HLB.
• The founding family (CEO Doan Truong Giang, his mother Pham Thi Dao, and brother Doan Thien Tan) collectively holds 56.26%.
• 2025 net revenue reached 1,835 billion VND (+16.7% YoY), a record high since 2016.
• Total dividend payout is 38.6 billion VND, equivalent to 24.8% of 2025 net profit.

What Happened

Ha Long Beer and Beverage (HLB), listed on UPCOM, announced a 125% cash dividend for 2025, with the record date set for June 18, 2026, and payment on June 26, 2026. Shareholders will receive 12,500 VND per share. The company reported record revenue of 1,835 billion VND in 2025, up 16.7% year-on-year, and record net profit.

The stock trades at 450,000 VND but has extremely low liquidity due to concentrated ownership. Foreign institutional investor Aseed Holdings Co., Ltd holds 30.42% of shares, while the founding family—CEO Doan Truong Giang (13.60%), his mother Pham Thi Dao (23.24%), and brother Doan Thien Tan (19.42%)—collectively control 56.26%. Daily trading volume has been minimal, often zero, over the past three months.

Market Context

HLB trades on UPCOM with a closing price of 450,000 VND as of June 3, 2026, unchanged from the prior session. The stock has near-zero liquidity due to the highly concentrated ownership structure, with foreign and family groups holding over 86% of shares. The beverage sector in Vietnam has seen mixed performance, but HLB’s record revenue and profit in 2025 highlight its strong operational results. However, the lack of free float limits trading opportunities for minority investors.

Strategic Significance

The 125% cash dividend underscores HLB’s strong cash generation and commitment to returning capital to shareholders. The high dividend yield (approximately 2.8% at current price) is attractive, but the near-zero liquidity means most investors cannot accumulate shares. The concentrated ownership suggests the company is tightly controlled, with little likelihood of a free float increase. For long-term investors, the key takeaway is that HLB operates as a quasi-private company despite its public listing, and dividend income is the primary return mechanism.

What to Watch

• Any change in ownership structure, particularly if the founding family reduces holdings or if Aseed Holdings adjusts its stake.
• Future dividend announcements and payout ratios, which may indicate management’s capital allocation strategy.
• Trading volume patterns: any increase could signal a shift in shareholder base.
• HLB’s ability to sustain revenue and profit growth in the competitive beverage market.
• Potential corporate actions such as share buybacks or delisting, given the low free float.