Vietnam Dividend Week Oct 26-30: NTC Pays 60% Cash, TCB 50% Stock

Overview

About 18 Vietnamese companies and banks will finalize dividend rights between October 26 and October 30, 2026, with Nam Tân Uyên Industrial Park (NTC, HOSE) paying the highest cash rate at 60% and Tân Bình Real Estate (TBR, UPCOM) the lowest at 3.5%. The calendar spans banking, industrial parks, mining, pharmaceuticals, hydropower and real estate, and concentrates a meaningful volume of cash and share distributions into a single week.

Key Facts

• NTC (HOSE): 2025 cash dividend of 60%, equal to VND 6,000 per share; record date October 26, 2026.
• TCB (HOSE): 50% stock dividend, execution ratio 100:50; record date October 30, 2026.
• KSV (HNX): 2026 interim cash dividend of 30%, or VND 3,000 per share; record date October 26, 2026.
• VMD (HOSE): 2025 cash dividend of 20%, or VND 2,000 per share; record date October 26, 2026.
• DSH (HOSE): 2025 stock dividend at 100:12; record date October 29, 2026.
• SJG (UPCOM): 2025 cash dividend of 12%, or VND 1,200 per share; record date October 30, 2026.
• TBR (UPCOM): 2025 cash dividend of 3.5%, or VND 350 per share; record date October 28, 2026.
• HJS (HNX): second 2025 cash dividend of 7%, or VND 700 per share; record date October 30, 2026.

What Happened

The schedule was compiled from exchange announcements across HOSE, HNX and UPCOM and reported by An ninh tiền tệ. Nam Tân Uyên Industrial Park, listed on HOSE, will pay a 2025 cash dividend of 60%, meaning shareholders receive VND 6,000 for every share held, with the final registration date set at October 26, 2026. At the October 25 close of VND 126,600, that distribution implies a gross yield of roughly 4.7% on the current price.

At the other end of the range, Tân Bình Real Estate on UPCOM will pay 3.5% in cash, or VND 350 per share, with a record date of October 28, 2026. Among the larger names, Techcombank (TCB, HOSE) will issue a 50% stock dividend on a 100:50 basis, while Khoáng Sản TKV (KSV, HNX) makes a 30% interim cash payment for 2026 and Vimedimex (VMD, HOSE) pays 20% in cash. Đông Sơn Holdings (DSH, HOSE) and Sông Đà (SJG, UPCOM) round out the list with stock and cash distributions respectively. The article does not disclose total payout values for most issuers.

Market Context

NTC closed at VND 126,600 on October 25, 2026, and the 60% cash dividend is the largest single distribution on this week’s calendar. Industrial park operators have benefited from sustained foreign direct investment inflows into southern Vietnam, and NTC’s payout reflects the cash-generative nature of leased-land revenue. The presence of TCB, one of the largest private banks on HOSE, with a 50% stock dividend signals continued capital retention rather than cash return at the sector level, a pattern consistent with banks building tier-1 capital under Basel II and Basel III roadmaps. The calendar is otherwise dominated by small and mid-cap names on HNX and UPCOM.

Strategic Significance

For income-oriented investors, NTC’s 60% cash payout is the clearest signal in the batch: it demonstrates that the industrial park model can convert lease prepayments into distributable cash without straining the balance sheet. The stock dividend at TCB is a different proposition, expanding share count by 50% while preserving equity, which dilutes per-share earnings unless the bank sustains its return on equity. KSV’s 30% interim cash payment for 2026, paid before the fiscal year closes, points to strong cash flow at the mining arm of TKV. The wide spread between the 60% top and 3.5% bottom illustrates how uneven dividend policy remains across Vietnamese small caps.

What to Watch

• Ex-dividend price adjustments for NTC and KSV on October 27, 2026, the first trading day after their record dates.
• TCB’s post-issuance share count and any update to its charter capital filing with the State Bank of Vietnam.
• NTC’s third-quarter 2026 results and land-lease renewal pipeline for the remainder of the year.
• Further TKV group dividend announcements covering the 2026 fiscal year.
• Foreign-ownership headroom filings for NTC and TCB following the record dates.