PMS, SAF, WSB Cash Dividends Above 30%; PNJ Bonus Shares 2:1

Overview

Three Vietnamese companies—PMS (Petroleum Machinery), SAF (Safoco), and WSB (Saigon Beer Western)—have announced cash dividend rates above 30% for the week of April 13-17, 2026. PMS leads with a record 39% payout. Meanwhile, PNJ (Phu Nhuan Jewelry) will issue bonus shares at a 2:1 ratio. These events highlight robust cash distribution policies among select Vietnamese listed firms.

Key Facts

• PMS (HNX) will pay a cash dividend of 39% (VND 3,900/share) for 2025, the highest in its history, with record date April 24.
• SAF (HNX) declares a 30% cash dividend (VND 3,000/share), totaling over VND 36 billion, payable on May 8.
• WSB (HNX) pays a 30% cash dividend (VND 3,000/share) for the final 2025 installment, with payment expected on May 22, 2026.
• PNJ (HOSE) will issue bonus shares at a 2:1 ratio, distributing nearly 170.6 million new shares from retained earnings.
• PMS has paid cash dividends consistently since 2005; the 39% rate surpasses its previous record of 33% in 2016.
• SAF’s major shareholder, VSF (Southern Food Corporation), holds 51.3% and is set to receive over VND 18.5 billion in dividends.
• At SAF’s recent closing price of VND 54,300, the dividend yield is approximately 5.5%.

What Happened

According to a market summary, 11 companies announced dividend record dates for the week of April 13-17, 2026. Among them, nine are paying cash dividends, with rates ranging from 8% to 39%. PMS, SAF, and WSB are the three highest payers, all exceeding 30%.

PMS (Petroleum Machinery) set April 24 as the record date for its 2025 cash dividend of 39% (VND 3,900 per share). The ex-dividend date is April 23. With over 7.2 million shares outstanding, the company will disburse approximately VND 28 billion. PMS has maintained uninterrupted cash dividends since 2005, and this year’s payout is a record high.

SAF (Safoco) also set April 24 as the record date for a 30% cash dividend (VND 3,000 per share), with payment on May 8. The total payout exceeds VND 36 billion. WSB (Saigon Beer Western) will pay a 30% cash dividend for the final 2025 installment, with record date April 24 and payment on May 22, 2026, totaling about VND 43.5 billion.

Separately, PNJ (Phu Nhuan Jewelry) will close its shareholder list on April 24 to issue bonus shares at a 2:1 ratio, meaning shareholders receive one new share for every two held. Fractional shares will be canceled.

Market Context

PNJ closed at VND 110,000 on April 15, 2026, with volume of 532,200 shares. The bonus share issuance is expected to increase liquidity and adjust the stock price. The high cash dividends from PMS, SAF, and WSB come amid a period of relatively stable interest rates, making these yields attractive to income-focused investors. All three stocks trade on HNX, which typically has lower liquidity than HOSE.

Strategic Significance

The record dividend from PMS underscores the company’s strong cash generation and commitment to shareholder returns, likely supported by stable operations in the petroleum machinery sector. SAF’s 30% payout, backed by its parent VSF, reflects consistent profitability in the food and beverage industry. WSB’s dividend aligns with the broader beer sector’s cash distribution trends. For PNJ, the bonus share issuance signals confidence in future growth and aims to enhance trading liquidity.

What to Watch

• PMS’s Q1 2026 earnings report to assess sustainability of high dividend policy.
• SAF’s upcoming annual general meeting for any changes in dividend guidance.
• WSB’s sales data for the first half of 2026, given competitive pressures in the beer market.
• PNJ’s stock price adjustment post-bonus issuance and any subsequent dividend announcements.
• Foreign ownership limits for PMS, SAF, and WSB, as high yields may attract foreign investors.