NAC Announces 22% Cash Dividend, Yield 169% of Share Price
This Aveluro analysis covers NAC. 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
NAC (CTCP Tư vấn Xây dựng Tổng hợp) announced a cash dividend of 2,200 VND per share (22% rate) for fiscal year 2025, with an ex-date of 4/9/2026 and payment on 9/10/2026. The dividend yield is approximately 169% of the current share price, which trades around 1,300 VND with minimal liquidity. This marks the second consecutive year the payout exceeds 2,000 VND per share.
Key Facts
- Cash dividend: 2,200 VND per share (22% rate) for fiscal year 2025.
- Ex-date: 4/9/2026; record date: 7/9/2026; payment date: 9/10/2026.
- Dividend yield: approximately 169% of the current share price (~1,300 VND/share).
- 2024 dividend: 2,000 VND/share (20%); 2023: 1,200 VND/share; 2022: 1,700 VND/share.
- Historical high: 8,000 VND/share for fiscal year 2018.
- 2025 revenue: 299.6 billion VND, up 34% year-on-year.
- 2025 net profit after tax: 8.85 billion VND, down 7% year-on-year.
What Happened
NAC (CTCP Tư vấn Xây dựng Tổng hợp), a construction consultancy firm, announced the record date for its 2025 cash dividend. Shareholders will receive 2,200 VND per share, representing a 22% payout rate. The ex-date is set for 4/9/2026, with the record date on 7/9/2026 and payment scheduled for 9/10/2026.
The company has a consistent history of cash dividends, with payouts fluctuating over the years. The 2025 dividend is the highest in the past three years, following 2,000 VND/share in 2024 and 1,200 VND/share in 2023. Notably, the highest historical payout was 8,000 VND/share for fiscal year 2018. The company’s shares trade around 1,300 VND with almost no liquidity, making the dividend yield exceptionally high at roughly 169% of the market price.
Market Context
NAC is listed on the HOSE but trades with minimal liquidity, typical for a small-cap stock with a low free float. The stock price hovers around 1,300 VND, and the announced dividend of 2,200 VND/share implies a yield far exceeding the market average. The company’s financial performance for 2025 shows revenue growth of 34% to 299.6 billion VND, but net profit declined 7% to 8.85 billion VND, reflecting margin pressure. The construction consultancy sector in Vietnam remains fragmented, with NAC being a niche player.
Strategic Significance
The high dividend payout, despite a decline in net profit, signals management’s commitment to returning cash to shareholders, possibly to support the stock price given its low liquidity. However, the payout ratio is extremely high relative to earnings, which may not be sustainable if profit continues to fall. For long-term investors, the key question is whether the company can maintain such payouts while investing in growth. The dividend yield, while optically attractive, is partly a function of the depressed share price, which may reflect market concerns about the company’s growth prospects and liquidity.
What to Watch
- Q1 2026 earnings release to see if revenue growth continues and profit margins recover.
- Any changes in dividend policy or special dividends for 2026.
- Trading activity around the ex-date; potential price adjustments given the high yield.
- Company announcements regarding new contracts or business expansion in the construction consultancy sector.
- Regulatory filings or shareholder meeting minutes that may indicate future capital allocation plans.