PAN Group Leads Dividend Week with 30% Cash Payout; FPT, HPG, TCX Also Pay

Overview

In the last week of May, 38 Vietnamese listed companies are paying cash dividends, with PAN Group (PAN) offering the highest rate at 30%. Additionally, FPT, Hoa Phat (HPG), and TCBS (TCX) are distributing stock dividends. The combined payouts reflect robust profitability and a commitment to shareholder returns across the technology, steel, securities, and food & beverage sectors.

Key Facts

• PAN Group (PAN) pays a 30% cash dividend (VND 3,000/share) and a 20% stock dividend, totaling a 50% shareholder return.
• PAN’s record date is May 29; the stock dividend will increase outstanding shares by 41.8 million, raising charter capital to nearly VND 2,581 billion.
• FPT pays a 10% cash dividend (VND 1,000/share) on May 29, with payment on June 10, totaling VND 1,700 billion.
• FPT also plans a 10:1 stock dividend from retained earnings, increasing charter capital accordingly.
• Hoa Phat (HPG) distributes a 10% stock dividend on May 26, issuing 767.5 million new shares, raising charter capital from VND 76,755 billion to VND 84,430 billion.
• TCBS (TCX) pays a 20% stock dividend (5:1 ratio) on May 26, issuing 462.3 million shares, increasing charter capital to VND 27,739 billion.
• 38 companies are paying cash dividends this week, with rates ranging from 4% to 30%.

What Happened

According to a market summary, 48 companies have announced dividend record dates for the week of May 25-29. Among them, 38 are paying cash dividends. PAN Group leads with a 30% cash dividend and an additional 20% stock dividend, offering a combined 50% return to shareholders. The company will issue nearly 41.8 million bonus shares, raising its charter capital to approximately VND 2,581 billion.

FPT announced a 10% cash dividend for the remainder of 2025, with a record date of May 29 and payment on June 10. This completes its 20% cash dividend plan approved at the 2026 AGM. Additionally, FPT will issue stock dividends at a 10:1 ratio from retained earnings. Hoa Phat will distribute a 10% stock dividend on May 26, issuing 767.5 million shares from audited 2025 retained profits. TCBS will also issue a 20% stock dividend on the same date, adding 462.3 million shares.

Market Context

As of May 23, 2026, PAN closed at VND 32,650 (+1.40%), FPT at VND 75,100 (-1.83%), HPG at VND 26,350 (-0.75%), and TCX at VND 51,000 (+1.59%). The dividend announcements come amid a generally stable market, with these tickers showing mixed short-term price action. PAN’s high dividend yield may attract income-focused investors, while FPT and HPG continue to reward shareholders despite sector headwinds. TCX’s stock dividend reflects strong capital position in the securities sector.

Strategic Significance

For PAN Group, the combined 50% payout signals strong cash generation and confidence in future earnings, reinforcing its position as a top dividend payer in the food & beverage sector. FPT’s consistent cash dividends and stock issuance demonstrate a balanced approach to returning capital while funding growth. Hoa Phat’s stock dividend allows it to retain cash for operations while rewarding shareholders, typical for capital-intensive industries. TCBS’s stock dividend underscores its profitability and desire to increase liquidity. These actions collectively highlight a shareholder-friendly environment among Vietnamese blue chips.

What to Watch

• PAN Group’s Q2 2026 earnings report to assess sustainability of high payouts.
• FPT’s stock dividend implementation and impact on share price and liquidity.
• Hoa Phat’s steel price trends and capacity utilization post-dividend.
• TCBS’s loan growth and fee income to justify continued dividend capacity.
• Market reaction to the ex-dividend dates for all four tickers.