Sasco (SAS) Announces Record 46.24% Cash Dividend for 2025
This Aveluro analysis covers SAS. The classified event type is dividend announcement, with positive sentiment and a deterministic market-impact score of 5.6/10. Aveluro classifies this story as a positive catalyst in the stock's news coverage. Source coverage came from VnExpress - Kinh doanh, classified as a primary/top-tier source.
Key Facts
Caveat: Not investment advice. · How Aveluro computed this: Aveluro combines extracted event facts, source credibility, ticker context, and market data. Scores are deterministic research signals, not recommendations.
Overview
Sasco (SAS), the operator of duty-free and retail services at Tan Son Nhat International Airport, announced a record cash dividend of 46.24% for fiscal year 2025 at its annual general meeting on June 25, 2026. The company reported revenue of VND 3,535 billion and pre-tax profit of VND 844 billion, up 67% year-on-year, driven by the strong recovery in Vietnam’s aviation sector.
Key Facts
- Cash dividend rate of 46.24%, equivalent to VND 4,624 per share, the highest in the company’s history.
- Total dividend payout of VND 617 billion from after-tax profit of over VND 701 billion.
- 2025 revenue reached VND 3,535 billion, up 15% year-on-year and exceeding the plan by 11%.
- Pre-tax profit of VND 844 billion, up 67% year-on-year, a record high.
- Basic EPS of VND 4,602, up 65% from 2024.
- Tax payments of VND 269 billion, equivalent to 191% of the plan.
- Share price on UPCOM around VND 38,000 on June 25, 2026.
What Happened
At the 2026 annual general meeting held on June 25, Sasco’s management reported that 2025 was a milestone year with total revenue of VND 3,535 billion, surpassing the plan by 11% and growing 15% year-on-year. Net revenue from production and business activities reached VND 3,316 billion, up 14%. Pre-tax profit hit VND 844 billion, a 67% increase and the highest since the company’s founding.
The company attributed the strong performance to the recovery of Vietnam’s aviation market, which transported 83.5 million passengers in 2025, up 10.7% year-on-year. Sasco benefited from rising passenger traffic, especially international travelers. The company also expanded its presence at the new domestic terminal T3 of Tan Son Nhat International Airport, launching the Lotus business lounge and retail, restaurant, and food services during the initial phase of T3 operations.
Market Context
SAS shares traded around VND 38,000 on the UPCOM exchange on June 25, with low volume of 11,500 shares. The stock has been supported by the company’s consistent dividend policy and strong earnings growth. The aviation services sector in Vietnam is recovering steadily, with Tan Son Nhat airport expected to handle 46.3 million passengers in 2026, up 10% year-on-year, according to Sasco’s forecast.
Strategic Significance
Sasco’s record dividend underscores its strong cash generation and commitment to shareholder returns. The company is leveraging the aviation recovery and the opening of T3 terminal to expand its non-aviation service ecosystem, including lounges, retail, and digital membership programs. This positions Sasco to capture higher spending per passenger and diversify revenue streams. The dividend yield of over 12% at current prices is attractive for income-focused investors, but sustainability depends on continued passenger growth and cost control.
What to Watch
- Passenger traffic data at Tan Son Nhat airport, especially international arrivals, for Q2 and Q3 2026.
- Sasco’s Q2 2026 earnings release to assess whether revenue and profit momentum continues.
- Progress of T3 terminal retail and lounge ramp-up and contribution to revenue.
- Any changes in dividend policy for 2026 or share buyback announcements.
- Foreign ownership limit and potential interest from foreign investors given the high dividend yield.