DIN Capital (PDB) Sets 15% 2026 Cash Dividend, Extends 11-Year Streak

Overview

DIN Capital (HNX: PDB) has set a record date of 28 September 2026 for a 15% cash dividend advance for 2026, equal to 1,500 VND per share, with payment scheduled for 14 October 2026. The announcement extends an 11-year streak of regular cash dividends and follows a record 40% payout for 2025. Separately, Chairman Le Truong Ky registered to sell 440,000 PDB shares for personal financial needs.

Key Facts

• Dividend rate: 15% of par value, or 1,500 VND per share, approved by the 2026 Annual General Meeting of Shareholders.
• Record date: 28 September 2026; ex-dividend date: 25 September 2026; payment date: 14 October 2026.
• Total outlay: approximately 13.4 billion VND, based on more than 8.9 million shares outstanding.
• Prior payout: 40% cash dividend for 2025, the highest since PDB listed on HNX in 2015.
• FY2025 results: net revenue of 425.7 billion VND, pre-tax profit of 65.1 billion VND, and consolidated after-tax profit attributable to parent shareholders of 52 billion VND, meeting 152%, 383% and 372% of plan respectively.
• FY2026 targets: net revenue of 291.5 billion VND and consolidated after-tax profit attributable to parent shareholders of 32 billion VND, with the dividend policy maintained at 15%.
• Chairman Le Truong Ky registered to sell 440,000 PDB shares from 15 September to 13 October 2026, which would cut his stake from 14.26% to 9.77%.

What Happened

The company said the 15% advance was already approved at the 2026 Annual General Meeting of Shareholders, according to its announcement of the record date. DIN Capital operates ready-mixed concrete production, transport and pumping, with batching stations in Da Nang and surrounding areas. The payout follows a year in which all three headline financial targets were exceeded by a wide margin, which the company has cited as the basis for its high dividend policy.

The chairman’s share sale was disclosed as a separate registration. Le Truong Ky held close to 1.3 million PDB shares, or 14.26% of capital, before the transaction. If the full 440,000 shares are sold, his ownership would fall to 9.77%. The filing cites personal financial needs as the reason; no price or buyer details were disclosed.

Market Context

PDB trades on the HNX. The stock closed at 25,600 VND on 16 September 2026, up nearly 6% on the session, and has gained more than 33% over the past two months. At that close, the 1,500 VND advance equates to a yield of roughly 5.9% on a single payment, with the full-year 15% policy implying a higher headline yield if maintained. The advance represents about 13.4 billion VND in cash leaving the balance sheet, against 52 billion VND of attributable profit booked for 2025.

Strategic Significance

The investment case rests on DIN Capital’s willingness to distribute cash rather than retain it, unusual for a small-cap construction materials producer in a cyclical segment tied to central Vietnam infrastructure and property activity. An 11-year unbroken cash dividend record, capped by a 40% payout for 2025, signals management’s confidence in cash conversion even as 2026 revenue and profit targets are set materially below 2025 actuals. The chairman’s sale of roughly a third of his holding is a governance point to monitor: it reduces his economic exposure below 10% just as the company commits to another cash distribution.

What to Watch

• Actual dividend payment on 14 October 2026 and confirmation that the 13.4 billion VND outlay is settled in full.
• Disclosure of the chairman’s sale results after the 13 October 2026 window closes, including volume executed and post-trade ownership.
• Q3 2026 results and progress against the 291.5 billion VND revenue and 32 billion VND profit targets.
• Any revision to the 15% full-year 2026 dividend policy at subsequent shareholder or board meetings.
• Concrete demand indicators in Da Nang and surrounding provinces, given the company’s single-region revenue concentration.