KSV and TMG Plan 30% Cash Dividend After H1 Profit Surge
This Aveluro analysis covers KSV on HNX in the Basic Resources sector. The classified event type is dividend announcement, with positive sentiment and a deterministic market-impact score of 5.6/10. Aveluro classifies this story as a positive catalyst in the stock's news coverage. Source coverage came from CafeF - Thị trường chứng khoán, classified as a primary/top-tier source.
Key Facts
Caveat: Not investment advice. · How Aveluro computed this: Aveluro combines extracted event facts, source credibility, ticker context, and market data. Scores are deterministic research signals, not recommendations.
Overview
Vimico (HNX: KSV) and Thai Nguyen Non-Ferrous Metals (HNX: TMG) have each announced interim cash dividends of 3,000 VND per share, a 30% rate, for 2026. The payouts follow sharp first-half profit growth at both miners, driven by higher copper, gold, silver and zinc prices. KSV’s distribution alone is worth roughly 900 billion VND, making it one of the larger cash returns announced on the Hanoi exchange this year.
Key Facts
- KSV interim dividend: 3,000 VND per share (30%), ex-date 23/10, record date 26/10, payment 11/11/2026.
- TMG interim dividend: 3,000 VND per share (30%), ex-date 21/10, payment 30/10/2026.
- KSV H1 2026 net revenue: 9,890 billion VND, up 42% year on year; net profit 2,426 billion VND, roughly 3x the prior-year period.
- KSV has nearly 300 million shares outstanding; the payout is about 900 billion VND, of which TKV (98.06% holder) receives close to 883 billion VND.
- TMG has 18 million shares outstanding; the payout is about 54 billion VND, with KSV (about 51% holder) receiving roughly 27.6 billion VND.
- TMG H1 2026 net profit: nearly 82 billion VND, more than double the same period last year.
- KSV average copper cathode price reached 345.7 million VND per tonne, up 98.7 million VND; average gold price was 3,830 million VND per kg, up 1,480 million VND.
What Happened
According to the companies’ dividend announcements, Vimico, formally Tổng công ty Khoáng sản TKV - CTCP, will close its shareholder list on 26 October 2026 and pay the interim dividend on 11 November 2026. The 30% rate is double the 15% minimum dividend for 2026 that shareholders had previously approved, and extends a record of annual payouts since 2017. For 2025, Vimico paid a 40.5% cash dividend and issued bonus shares at a 50% rate.
Thai Nguyen Non-Ferrous Metals - Vimico, the subsidiary in which Vimico holds about 51%, set its ex-date at 21 October 2026 with payment on 30 October 2026. TMG has paid high cash dividends for several years: 70% in 2022, 27% in 2023, 32% in 2024 and a total of 5,000 VND per share (50%) in 2025. Management attributed the H1 improvement mainly to world metal prices, with the selling price of its core zinc ingot product rising nearly 15 million VND per tonne.
Market Context
KSV last closed at 121,000 VND on 7 October 2026 and TMG at 65,000 VND on 28 September 2026, both on HNX. Against those prices, the 3,000 VND interim dividend implies a yield of roughly 2.5% for KSV and 4.6% for TMG on a single-instalment basis, though both companies have historically paid more than one dividend per year. The mining sector has been a strong performer on the Hanoi exchange through 2026 as base and precious metal prices rose, and the two companies sit within the TKV state mining group, which controls the largest shareholding in each.
Strategic Significance
The investment case here rests less on the interim dividend itself than on the earnings base funding it. KSV’s H1 profit tripled on a combination of higher volumes and sharply higher realised prices for copper, gold, silver and zinc, which means the 30% payout is covered several times over by first-half earnings alone. TMG offers a smaller, more zinc-levered exposure with a consistently high cash payout ratio and a free float limited by Vimico’s 51% stake. For long-term holders, the key question is whether metal prices hold near current levels; if they do, both companies retain room to pay further dividends in 2026 beyond this interim instalment, as they have in prior years.
What to Watch
- Full-year 2026 dividend resolutions at both companies’ annual general meetings, which would indicate whether the 30% interim is topped up.
- Q3 2026 earnings releases for KSV and TMG, to test whether the H1 metal-price tailwind persisted.
- Copper, gold and zinc price trends on international exchanges, the main swing factor in KSV and TMG realised selling prices.
- Any change in TKV’s ownership or state capital divestment plans affecting KSV’s free float and liquidity.
- TMG’s minority dividend flow, given Vimico’s 51% holding and the small 18 million share count.