Sonadezi Long Thanh (SZL) Sets 95% Dividend Record Date, Cash and Stock

Overview

Sonadezi Long Thanh (SZL) has announced a record date of September 17, 2026, for a combined cash and stock dividend totaling 95% for fiscal year 2025. The payout includes a 25% cash dividend (2,500 VND per share) and a 70% stock dividend (10:7 ratio), reflecting the company’s substantial undistributed profits. Additionally, SZL reported partial completion of its treasury stock sale, selling only 37% of the planned volume due to insufficient investor demand.

Key Facts

• Record date for dividend entitlement: September 17, 2026; cash payment expected October 7, 2026.
• Cash dividend: 25% (2,500 VND per share), totaling approximately 71 billion VND based on ~28.4 million outstanding shares.
• Stock dividend: 70% (10:7 ratio), issuing over 19.8 million new shares with a total par value of nearly 198.5 billion VND.
• Post-issuance charter capital will increase from over 291.1 billion VND to over 489.6 billion VND.
• Treasury stock sale: sold 449,800 shares at an average price of 47,696 VND/share, representing 37% of the 1.2 million shares registered for sale (June 23–July 22, 2026).
• Remaining treasury shares: 762,500 after the transaction.
• Previous sale period (March 26–April 24, 2026): sold 558,000 of nearly 1.8 million registered shares.

What Happened

Sonadezi Long Thanh Joint Stock Company (SZL), listed on HOSE, announced that September 17, 2026, will be the record date for shareholders to receive the 2025 dividend. The dividend comprises a cash component of 25% (2,500 VND per share) and a stock component of 70%, with shareholders receiving 7 new shares for every 10 shares held. The cash dividend is scheduled for payment on October 7, 2026, while the stock issuance will be funded from retained earnings as of December 31, 2025, per the audited financial statements.

In a separate development, SZL reported to the State Securities Commission (SSC) the results of its treasury stock sale. The company had registered to sell over 1.2 million treasury shares via matched orders on HOSE from June 23 to July 22, 2026. However, only 449,800 shares were sold at an average price of 47,696 VND per share, representing 37% of the intended volume. The company cited a lack of buyers as the reason for not completing the sale. This follows a similar partial sale in the earlier period from March 26 to April 24, 2026, when only 558,000 of nearly 1.8 million registered shares were sold.

Market Context

SZL closed at 52,400 VND on August 27, 2026, on HOSE. The stock’s valuation reflects the company’s position in the industrial real estate sector, which has seen mixed investor sentiment amid broader market volatility. The partial treasury sales at prices below the current market price suggest limited liquidity and cautious investor appetite, even as the company maintains a strong dividend policy. The 95% dividend yield (on par value) is notably high, but the stock component dilutes existing shareholders, and the cash component requires significant outlay.

Strategic Significance

For long-term investors, SZL’s dividend announcement underscores its robust profitability and commitment to returning capital to shareholders. The use of retained earnings for the stock dividend indicates a strategy to capitalize profits while preserving cash for operational needs. However, the incomplete treasury sales highlight potential liquidity challenges and a lack of strong buying interest, which could weigh on share price momentum. The increase in charter capital to nearly 490 billion VND may support future expansion, but investors should monitor whether the company can effectively deploy this capital in its industrial park developments.

What to Watch

• Completion of the stock dividend issuance and the resulting increase in charter capital, expected after the record date.
• Any further treasury stock sale attempts and their execution rates, which may signal market demand.
• Q3 2026 earnings release, due in October, to assess operational performance and cash flow.
• Updates on industrial park leasing activity and new project approvals in the Long Thanh area.
• Changes in foreign ownership limits or investor sentiment toward the real estate sector on HOSE.