LAS Sets October 2 Dividend Record Date for VND 113B Cash Payout

Overview

CTCP Supe Phốt phát và Hóa chất Lâm Thao (LAS, HNX) will close its shareholder list on October 2, 2026 to pay a 10% cash dividend for fiscal 2025, equal to VND 1,000 per share. The payout totals roughly VND 113 billion across nearly 113 million shares outstanding, with parent Tập đoàn Hóa chất Việt Nam (Vinachem) receiving the bulk of it. The announcement arrives as LAS reports sharply weaker first-half 2026 results.

Key Facts

• Record date for the shareholder list: October 2, 2026; expected payment date October 21, 2026.
• Dividend rate: 10% in cash, or VND 1,000 per share, for the 2025 fiscal year.
• Total cash outlay: approximately VND 113 billion, based on nearly 113 million shares outstanding.
• Vinachem holds close to 78.8 million LAS shares, about 70% of capital, and will receive the majority of the dividend.
• H1 2026 net revenue: VND 2,235 billion, down 16% year-on-year.
• H1 2026 net profit after tax: just over VND 50 billion, down 59% year-on-year.
• LAS traded around VND 12,100 per share on the morning of September 23, down 23% since the start of the year.

What Happened

The company set the record date through a standard shareholder-list closing announcement, with payment scheduled for October 21, 2026. The 10% cash rate applies to the 2025 fiscal year. Because Vinachem controls roughly 70% of LAS, the state-owned chemical group is the single largest beneficiary of the VND 113 billion distribution, leaving a smaller residual for minority shareholders.

LAS traces its origins to the Lam Thao Superphosphate plant, which began production on June 24, 1962, and today produces and trades fertilizers and chemicals through a nationwide dealer network. The dividend is being paid even as the company’s interim results show margin pressure: revenue declined 16% and net profit fell 59% in the first half of 2026, which management attributes to rising costs. The source article does not disclose a full-year 2025 profit figure or a payout ratio against 2025 earnings.

Market Context

LAS trades on the HNX and closed at VND 12,100 on September 22, 2026, a level cited in the article as down 23% since the start of the year. At that price, the VND 1,000 per-share distribution implies a dividend yield of about 8.26%. The stock sits in the fertilizers and chemicals segment, where input-cost inflation and soft agricultural demand have weighed on earnings across the sector during 2026. The decline in LAS shares year-to-date is steeper than the broad HNX trend, reflecting the company-specific profit contraction rather than a market-wide de-rating alone.

Strategic Significance

The payout tests whether LAS can sustain a high cash distribution while earnings are falling. A yield above 8% at the current price is attractive on income grounds, but it is being funded from a profit base that has halved year-on-year, so the key question for long-term holders is whether this is a recurring commitment or a one-off release tied to 2025 results. Vinachem’s 70% stake means the parent’s own cash needs will heavily influence future dividend policy, and minority investors effectively ride on that decision. For the fertilizer and chemicals complex, LAS’s margin compression is a read-through on input costs and pricing power across domestic producers.

What to Watch

• The October 21, 2026 payment date and confirmation that the full VND 113 billion is disbursed as scheduled.
• Q3 2026 results, which will show whether the 59% H1 profit decline is stabilizing or deepening.
• Any Vinachem statement on 2026 dividend policy, given its roughly 70% ownership and cash requirements.
• Input-cost trends for phosphate rock, ammonia and energy, the main drivers of LAS margins.
• Foreign-ownership and shareholder-structure filings on HNX for changes in the free float.