PHR leads Vietnam dividend week with 94% payout; IST, DVP also pay

Overview

More than 30 Vietnamese listed companies have set dividend record dates for the week of September 7-11, with cash dividends ranging from 2% to 30%. The most notable is rubber producer Cao su Phước Hòa (PHR), which will pay a combined dividend of 94% for 2025, including a cash component and a large stock issuance. Logistics firm ICD Tân Cảng Sóng Thần (IST) and port operator Cảng Đình Vũ (DVP) also feature prominently with cash payouts of 29.5% and 30%.

Key Facts

• PHR (HOSE) sets the record date for its 2025 dividend on September 14, 2026; the ex-date is September 11.
• PHR will pay a cash dividend of 14% (VND 1,400 per share), totaling about VND 190 billion, with payment on October 15, 2026.
• PHR will also issue 108.4 million shares from equity at a ratio of 10:8 (shareholders receive 8 new shares for every 10 held).
• Combined cash and stock dividend for PHR reaches 94%.
• IST (UPCOM) goes ex-dividend on September 10, 2026, for a cash dividend of 29.5025% (VND 2,950.25 per share), totaling nearly VND 44.3 billion; payment is scheduled for September 22.
• DVP (HOSE) goes ex-dividend on September 9, 2026, for a second-half 2025 cash dividend of 30% (VND 3,000 per share), totaling VND 120 billion; payment is expected on September 30.
• IST’s 2025 dividend is its highest in five years, surpassing the 34% total paid in 2020.

What Happened

According to a market summary published by the Vietnam News Agency, approximately 35 companies announced dividend record dates for the week of September 7-11. Nearly 26 of these will pay cash dividends, with the highest at 30% and the lowest at 2%. The list includes several large-cap and mid-cap names across sectors.

Cao su Phước Hòa (PHR), listed on HOSE, announced that September 14, 2026, is the record date for shareholders to receive the 2025 cash dividend, receive shares issued from equity, and attend the extraordinary general meeting. The company will pay a cash dividend of 14% (VND 1,400 per share) and issue 108.4 million shares at a ratio of 10:8. This brings the total dividend for the year to 94%, one of the highest in the market this season.

ICD Tân Cảng Sóng Thần (IST), trading on UPCOM, set September 10 as the ex-dividend date for its 2025 cash dividend of 29.5025% (VND 2,950.25 per share). The company will pay out nearly VND 44.3 billion, with its parent, Tổng Công ty Tân cảng Sài Gòn (51% stake), receiving about VND 22.6 billion. IST’s 2025 dividend is its highest in five years, exceeding the 34% total paid in 2020.

Cảng Đình Vũ (DVP), listed on HOSE, will go ex-dividend on September 9 for its second-half 2025 cash dividend of 30% (VND 3,000 per share). The company will distribute VND 120 billion, with major shareholders Cảng Hải Phòng (51%) and Vật tư Nông sản (18.7%) receiving approximately VND 61 billion and VND 22 billion, respectively.

Market Context

PHR closed at VND 61,800 on September 5, 2026, on HOSE. The stock has been supported by robust rubber prices and the company’s expansion into downstream processing. IST, trading on UPCOM, closed at VND 33,500, reflecting its steady logistics operations linked to the Tân Cảng system. DVP, also on HOSE, closed at VND 77,100, benefiting from strong port throughput in Hải Phòng. These dividend announcements come amid a generally positive sentiment for Vietnamese equities, with investors favoring high-yield names.

Strategic Significance

PHR’s 94% total dividend underscores its strong cash flow generation and commitment to shareholder returns, even as it invests in new projects. The stock issuance from equity will increase share count by 80%, potentially diluting near-term EPS but signaling confidence in future earnings. For IST, the record dividend reflects improved profitability and a strong balance sheet, making it an attractive income play in the logistics sector. DVP’s consistent 30% payout highlights the stability of port operations, which benefit from Vietnam’s growing trade volumes. These payouts are a positive signal for income-focused investors, though they also raise questions about reinvestment opportunities.

What to Watch

• PHR’s extraordinary general meeting and any updates on its business strategy for 2026-2027.
• IST’s Q3 2026 earnings report to see if the high dividend is sustainable.
• DVP’s monthly cargo throughput data for Hải Phòng port, which will indicate demand trends.
• Any regulatory changes affecting dividend taxation or foreign ownership limits in Vietnam.
• The broader market reaction to the ex-dividend dates, as share prices typically adjust downward by the dividend amount.