NBW Announces 16% Cash Dividend for 2025, Payout on Sept 30

Overview

NBW (HNX: NBW), the water utility company known as Cấp nước Nhà Bè, has announced a 16% cash dividend for 2025, paying 1,600 VND per share. The total payout is approximately 17.4 billion VND, with the record date set for September 3, 2026, and payment scheduled for September 30, 2026. This dividend is part of the company’s 2025 profit distribution plan, which was approved at the annual general meeting in 2026.

Key Facts

• Dividend rate: 16% in cash, equivalent to 1,600 VND per share.
• Total payout: approximately 17.4 billion VND, based on nearly 10.9 million outstanding shares.
• Record date: September 3, 2026; ex-right date: August 28, 2026 (adjusted due to National Day holiday on September 2).
• Payment date: September 30, 2026.
• Parent company Sawaco (Tổng Công ty Cấp nước Sài Gòn - TNHH MTV) holds 53.44% of NBW and will receive about 9.3 billion VND.
• 2025 net profit: nearly 32 billion VND, up 6.7% year-on-year, a record high.
• H1 2026 net profit: approximately 17 billion VND, down 19% year-on-year.

What Happened

Cấp nước Nhà Bè (NBW) announced on August 8, 2026, that it will pay a cash dividend for the first installment of 2025 at a rate of 16%, or 1,600 VND per share. The company has nearly 10.9 million shares outstanding, leading to a total cash outlay of about 17.4 billion VND. The record date is September 3, 2026, with the ex-right date on August 28, 2026, adjusted because September 2 is a public holiday. Payment is expected on September 30, 2026.

The dividend is part of the 2025 profit distribution plan approved at the annual general meeting in 2026, which set the total 2025 dividend at 17.4%. After this 16% payment, approximately 1.4% of the 2025 dividend remains undistributed. The parent company, Sawaco, which owns 53.44% of NBW, will receive the largest share, estimated at 9.3 billion VND.

Market Context

NBW trades on the HNX exchange. As of July 2, 2026, the stock closed at 33,400 VND, down 9.73% on that day, with very low volume of 100 shares. The dividend yield at the current price is approximately 4.8% for this installment. The company has a history of consistent dividends, with 2024 total dividends near 19% and 2020-2023 ranging from 11% to 15.5%. The 2025 dividend of 17.4% is among the highest in its history, supported by record 2025 net profit of nearly 32 billion VND, up 6.7% year-on-year. However, H1 2026 profit declined 19% year-on-year to about 17 billion VND, indicating a slowdown.

Strategic Significance

NBW’s dividend policy reflects its stable cash flow as a regulated water utility serving districts 4, 7, and Nhà Bè in Hồ Chí Minh City. The high payout ratio is supported by its monopoly-like position in the region and consistent profitability. However, the recent profit decline in H1 2026 raises questions about sustainability. Investors should monitor whether the company can maintain its dividend level if profit continues to fall. The parent company Sawaco’s majority stake means the dividend also serves as a cash flow channel to the state-owned parent, which may influence future distribution policies.

What to Watch

• H1 2026 financial statements (already released) showing a 19% profit decline; watch for H2 2026 performance to see if the trend reverses.
• Any announcement regarding the remaining 1.4% dividend for 2025, which may be paid later.
• Updates on the 2026 dividend plan, which will be proposed at the next AGM in 2027.
• Regulatory changes in water tariffs or privatization policies that could affect NBW’s revenue and profit.
• Trading volume and price movement around the ex-dividend date (August 28, 2026) and payment date (September 30, 2026).