PTG and NFC Announce 50% Cash Dividend, Record Date May 8, 2026

Overview

PTG (Phan Thiet Export Garment) and NFC (Ninh Binh Phosphate) have announced cash dividend payments at a 50% rate, with the record date set for May 8, 2026. PTG’s dividend of 5,000 VND per share is significantly higher than its initial plan of 20%, while NFC’s 50% payout marks the highest in its history, backed by record 2025 profits.

Key Facts

• PTG will pay a cash dividend of 50% (5,000 VND/share) for fiscal year 2025, record date May 8, 2026, payment on June 11, 2026.
• PTG has nearly 5 million shares outstanding, requiring an estimated 25 billion VND for this dividend.
• PTG’s actual dividend rate of 50% is well above its initial plan of 20% (2,000 VND/share).
• PTG has paid cash dividends every year since listing on UPCoM in 2010; in 2024 it paid a record 150%.
• NFC will pay a 50% cash dividend, record date May 8, 2026, payment on May 18, 2026, totaling nearly 79 billion VND.
• NFC’s 50% dividend is the highest in its history; the company has paid dividends consistently since listing in 2013.
• NFC reported 2025 revenue of 1,240 billion VND and pre-tax profit of 173 billion VND, up 35% and 2.8x year-on-year respectively.
• NFC’s 2026 targets: revenue 1,423 billion VND (+15%) and pre-tax profit 180 billion VND (+4%), which would be a fifth consecutive record.

What Happened

PTG (Phan Thiet Export Garment Joint Stock Company) announced a cash dividend of 50% (5,000 VND per share) for 2025, with the record date on May 8, 2026, and payment scheduled for June 11, 2026. The payout is notably higher than the company’s original plan of 20% (2,000 VND per share). PTG has a history of consistent cash dividends, including a record 150% in 2024 and regular payouts of 20-30% in most years.

NFC (Ninh Binh Phosphate Joint Stock Company) also declared a 50% cash dividend, with the same record date of May 8, 2026, and payment on May 18, 2026. This is the highest dividend rate in NFC’s history. The company achieved record revenue and profit in 2025, with pre-tax profit surging 2.8 times to 173 billion VND. For 2026, NFC targets further growth, aiming for a fifth consecutive year of record results and maintaining a minimum interim dividend rate of 40%.

Market Context

PTG trades on UPCoM at around 1,200 VND per share, implying a dividend yield of approximately 416%. However, liquidity is extremely thin; the last trade occurred in November 2025 with only 100 shares transferred via negotiation. The shareholder base is concentrated, with insiders and related parties holding about 63% of capital. NFC is listed on HNX and has a more liquid profile, supported by its position as one of Vietnam’s four largest phosphate fertilizer producers and a member of the Vietnam Chemical Industry Group.

Strategic Significance

PTG’s decision to raise its dividend well above the initial plan signals strong cash flow generation and a shareholder-friendly policy, but the stock’s illiquidity and concentrated ownership limit market access. For NFC, the record dividend reflects robust earnings momentum from the fertilizer sector, driven by favorable agricultural demand and cost management. NFC’s consistent dividend growth and record profit trajectory underscore its operational strength and commitment to returning capital to shareholders.

What to Watch

• PTG’s Q1 2026 earnings report to assess whether the elevated dividend is sustainable.
• NFC’s Q1 2026 results and progress toward its 2026 revenue and profit targets.
• Any changes in PTG’s shareholder structure or liquidity improvement initiatives.
• NFC’s interim dividend announcement for 2026, expected to be at least 40%.
• Fertilizer price trends and input cost movements affecting NFC’s margins.