NFC Announces Record 50% Cash Dividend for 2025, Payable in May 2026

Overview

Phan Lan Ninh Binh (NFC), a fertilizer producer listed on HOSE, announced a record 50% cash dividend for 2025, payable on May 18, 2026. The payout follows a record pretax profit of 173 billion VND in 2025, up 2.8 times year-on-year, driven by higher agricultural prices and reduced fertilizer imports.

Key Facts

• NFC will close the shareholder list on May 8, 2026, for a 50% cash dividend (5,000 VND per share), payable on May 18, 2026.
• The total dividend payout is estimated at 79 billion VND, based on nearly 15.7 million outstanding shares.
• 2025 revenue reached 1,240 billion VND (+35% YoY), and pretax profit hit a record 173 billion VND (2.8x YoY).
• 2026 targets: revenue of 1,423 billion VND (+15% YoY) and pretax profit of 180 billion VND (+4% YoY).
• In Q1 2026, net revenue was 515 billion VND (+13.8% YoY), and net profit was 54 billion VND (+39.2% YoY).
• The company has paid cash dividends every year since listing in 2013; the 50% rate is the highest in its history.
• NFC plans to maintain a minimum interim dividend of 40% of charter capital for 2026.

What Happened

On May 8, 2026, NFC will record shareholders for a 50% cash dividend for fiscal year 2025, with payment scheduled for May 18, 2026. The company announced the payout after reporting record financial results for 2025: revenue of 1,240 billion VND and pretax profit of 173 billion VND, both all-time highs. The fertilizer market faced intense competition from new producers, volatile weather, and fluctuating raw material costs (apatite ore), but high agricultural prices and lower imports boosted demand.

For 2026, NFC targets revenue of 1,423 billion VND and pretax profit of 180 billion VND, which would mark the fifth consecutive year of record revenue and profit. In Q1 2026, net profit rose 39.2% YoY to 54 billion VND, suggesting strong momentum.

Market Context

NFC shares trade on HOSE. The fertilizer sector has benefited from elevated global agricultural prices and reduced import competition in Vietnam. NFC’s consistent dividend policy and record earnings have supported investor sentiment. The stock’s price-to-earnings ratio remains modest relative to historical averages, though the 50% dividend yield (based on par value) is exceptional.

Strategic Significance

NFC’s record dividend and profit underscore its strong market position in the domestic phosphate fertilizer market. The company’s ability to grow earnings despite input cost volatility and new competition reflects operational efficiency and pricing power. The 2026 target of 180 billion VND pretax profit implies continued margin expansion. For long-term investors, NFC offers a high dividend yield and steady earnings growth, though the sustainability of agricultural commodity prices and import trends are key risks.

What to Watch

• Q2 2026 earnings release to confirm profit trajectory.
• Agricultural commodity price trends and their impact on fertilizer demand.
• Import data for phosphate fertilizers to gauge competitive pressure.
• Raw material (apatite ore) cost developments.
• Any changes to dividend policy or capital allocation plans.