TV4 (EVNPECC4) Declares 10% Cash Dividend Amid Leadership Overhaul
This Aveluro analysis covers TV4 on HNX in the Industrial Goods & Services sector. The classified event type is dividend announcement, with mixed sentiment and a deterministic market-impact score of 4.0/10. Source coverage came from CafeF - Thị trường chứng khoán, 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
EVNPECC4 (ticker TV4, HNX) has approved a 2025 cash dividend of 10%, equal to 1,000 VND per share, with a record date of 16 October 2026 and payment on 22 October 2026. The announcement follows a turbulent period in which former Chairman Lê Cao Quyền, former CEO Trần Cao Hỷ and other senior executives were prosecuted and detained, prompting a full leadership reshuffle. For investors, the dividend signals that the consulting and design firm is maintaining shareholder returns while stabilising governance under a new board.
Key Facts
- Cash dividend for 2025: 10% of par value, or 1,000 VND per share.
- Record date: 16 October 2026; payment date: 22 October 2026.
- Approximately 19.8 million TV4 shares outstanding, implying a total payout of nearly 20 billion VND.
- Former Chairman Lê Cao Quyền, former CEO Trần Cao Hỷ, former Deputy CEO Nguyễn Như Đông and former Chief Accountant Trần Lê Thanh Bình were prosecuted and detained in June 2026 in a case linked to the National Power Transmission Corporation.
- At an extraordinary general meeting on 24 August 2026, Lê Cao Quyền and Trần Cao Hỷ were removed from the board; Vương Anh Dũng was elected Chairman for 2026-2031 and Đồng Trinh Hoàng appointed CEO.
- H1 2026 revenue reached 104 billion VND (+6% year on year) and net profit after tax 7 billion VND (+18%).
- TV4 closed at 13,000 VND per share on 5 October 2026, giving a market capitalisation of 257 billion VND (about USD 10.3 million).
What Happened
In a board resolution, CTCP Tư vấn Xây dựng Điện 4 (EVNPECC4) set the 2025 cash dividend at 10% of par value, meaning shareholders will receive 1,000 VND for each share held. The record date to establish entitlement is 16 October 2026, with payment scheduled for 22 October 2026. With roughly 19.8 million shares in issue, the company expects to distribute close to 20 billion VND.
The dividend comes after a period of severe management disruption. In June 2026, then-Chairman Lê Cao Quyền, then-CEO Trần Cao Hỷ, Deputy CEO Nguyễn Như Đông and Chief Accountant Trần Lê Thanh Bình were prosecuted and temporarily detained in an investigation involving the National Power Transmission Corporation and related units. At an extraordinary shareholders’ meeting on 24 August 2026, Lê Cao Quyền and Trần Cao Hỷ were removed from the board. Vương Anh Dũng was elected Chairman for the 2026-2031 term and Đồng Trinh Hoàng became CEO. In late September, Nguyễn Đăng Quang, director of the Power Grid Construction Consulting Centre, was appointed Deputy CEO from 25 September. The board now comprises Chairman Vương Anh Dũng, members Đồng Trinh Hoàng and Huỳnh Minh Quang, and independent member Nguyễn Chí Quang.
Market Context
TV4 trades on the HNX and closed at 13,000 VND on 5 October 2026, implying a market capitalisation of 257 billion VND. At that price, the 1,000 VND dividend represents a yield of about 7.7%, a high payout relative to the small-cap infrastructure consulting segment. The stock has been under pressure since the June arrests, and the dividend announcement, alongside the completed board transition, is the first concrete shareholder-return signal under the new leadership. The broader Vietnamese market has been sensitive to governance and legal-risk headlines in state-linked infrastructure names, making clarity on management and capital returns a key differentiator for small-cap HNX listings.
Strategic Significance
EVNPECC4’s core business is consulting, surveying and designing power source and grid projects, including the 1,200 MW Bác Ái pumped-storage hydropower project. That pipeline ties the company directly to Vietnam’s power development plan and the transmission build-out, where state-linked counterparties dominate. The dividend matters less for its absolute size than for what it demonstrates: the new board, installed after the June arrests, is willing and able to authorise cash returns and keep the business operating normally. For long-term investors, the thesis rests on whether the governance reset restores the company’s ability to win and execute on large power-consulting contracts, and whether the H1 2026 revenue and profit growth continues through the second half. The 7.7% yield offers a tangible return while that execution risk plays out.
What to Watch
- Full-year 2026 results against the company’s targets of 403 billion VND revenue and over 42 billion VND net profit; H1 achieved 26% of revenue and nearly 17% of profit.
- Progress on the 1,200 MW Bác Ái pumped-storage hydropower project and any new power-grid consulting awards.
- Further developments in the legal case involving the National Power Transmission Corporation and former TV4 executives.
- Any additional board or senior-management changes following the 25 September Deputy CEO appointment.
- Liquidity and foreign-ownership data on HNX, given the company’s small free float and market capitalisation of about USD 10.3 million.