Vincom Retail (VRE) Announces 10% Cash Dividend for 2025, Targets 15% Profit Growth in 2026

Overview

Vincom Retail (VRE), Vietnam’s leading retail real estate developer, announced a 10% cash dividend for 2025 at its annual general meeting on April 23, 2026. The dividend, worth nearly VND 2,300 billion, is expected to be paid in Q3 2026. The company also set 2026 revenue and profit targets of VND 10,132 billion (+16%) and VND 5,375 billion (+15%), respectively, excluding non-recurring items.

Key Facts

• Vincom Retail (VRE) proposes a 10% cash dividend for 2025, equivalent to VND 1,000 per share, totaling nearly VND 2,300 billion.
• Dividend payment is scheduled for Q3 2026.
• 2026 revenue target: VND 10,132 billion (+16% vs. 2025 adjusted base).
• 2026 net profit target: VND 5,375 billion (+15% vs. 2025 adjusted base).
• Core leasing and services revenue expected at VND 9,719 billion (+14%).
• Property transfer revenue targeted at VND 413 billion (+143%).
• New mall Vincom Plaza Dan Phuong (Hanoi, ~25,000 sqm) to open in 2026.
• The company aims to become Asia’s leading retail real estate developer.

What Happened

At its annual general meeting on April 23, 2026, in Hanoi, Vincom Retail’s management presented the 2025 dividend plan and 2026 business targets. The company will use accumulated 2025 profits to pay a 10% cash dividend, with total payout of nearly VND 2,300 billion. The dividend is expected to be disbursed in Q3 2026.

For 2026, Vincom Retail targets consolidated net revenue of VND 10,132 billion and after-tax profit of VND 5,375 billion, representing 16% and 15% growth, respectively, over the 2025 adjusted figures (excluding non-recurring items such as the Vincom Nguyen Chi Thanh mall results and capital transfer gains). The leasing and services segment remains the primary revenue driver, with expected revenue of VND 9,719 billion (+14%). Property transfer revenue is projected at VND 413 billion, up 143%.

Market Context

VRE shares closed at VND 28,000 on April 15, 2026, up 1.79% with volume of 3.56 million shares. The stock trades on HOSE. The dividend announcement comes amid a recovery in Vietnam’s retail real estate sector, supported by improving consumer spending and tourism. Vincom Retail’s focus on optimizing existing mall operations and expanding selectively aligns with sector trends.

Strategic Significance

The dividend payout signals confidence in cash flow generation despite ongoing expansion. The 2026 targets, which exclude non-recurring items, indicate management’s focus on sustainable core earnings growth. The company’s ambition to become Asia’s leading retail real estate developer suggests potential international expansion, though near-term growth remains domestic. The new mall opening in Hanoi and improved leasing metrics are key to achieving targets.

What to Watch

• Q2 2026 earnings release for progress against 2026 targets.
• Occupancy rates and rental yields at existing malls.
• Timeline and details of international expansion plans.
• Dividend payment execution in Q3 2026.
• Any updates on new mall openings beyond Dan Phuong.