Quang Ngai Sugar (QNS) Announces 20% Cash Dividend, Maintaining 40% Payout for Third Year

Overview

Quang Ngai Sugar Joint Stock Company (QNS) has announced the final cash dividend payment for 2025, setting an ex-date of April 17, 2026. The 20% payout brings the total dividend for the fiscal year to 40%, a level the company has maintained for three consecutive years. This move follows shareholder approval at the Annual General Meeting on April 4, 2026, and comes alongside the company’s 2026 business targets, which project lower revenue and profit.

Key Facts

• The final 2025 cash dividend is set at 20%, equivalent to VND 2,000 per share.
• The ex-date for eligibility is April 17, 2026, with payment expected on April 28, 2026.
• With over 367.6 million outstanding shares, the estimated payout for this tranche is approximately VND 735 billion.
• The total 2025 dividend reaches 40% in cash, matching the level maintained for the third consecutive year (2023, 2024, 2025).
• Two interim cash dividend payments were made in August 2025 and January 2026, totaling 20% and approximately VND 735 billion.
• For 2026, the company targets a minimum dividend of 15%.
• 2026 business targets include revenue of VND 10,500 billion (down 5% year-on-year) and post-tax profit of VND 1,512 billion (down 21%).

What Happened

Quang Ngai Sugar (QNS), the producer of the Fami soy milk brand, announced via corporate filing that April 17, 2026, will be the ex-date for shareholders to receive the remaining dividend rights for 2025. The company plans to pay a 20% cash dividend, corresponding to VND 2,000 per share, with an expected payment date of April 28, 2026. This final tranche follows two interim cash dividend payments made in August 2025 and January 2026, each also at a 10% rate, bringing the total advance payments to 20%.

The total 2025 dividend of 40% in cash was approved by shareholders at the Annual General Meeting held on April 4, 2026. According to the announcement, this marks the third consecutive year the company has maintained this 40% dividend payout level. Concurrently, QNS disclosed its 2026 business plan, targeting revenue of VND 10,500 billion, a 5% decrease from the previous year, and post-tax profit of VND 1,512 billion, a 21% decline, which would be the lowest level since 2022.

Market Context

QNS trades on the Ho Chi Minh Stock Exchange (HOSE) under the Consumer Staples sector. As of April 10, 2026, the stock closed at VND 47, down 0.42% on volume of 160,700 shares. The announcement of a consistent high dividend yield may attract income-focused investors, particularly in a market where stable cash returns are valued. The stock’s recent performance and volume suggest moderate trading activity ahead of the ex-date.

Strategic Significance

The sustained 40% annual dividend payout for three years underscores QNS’s commitment to returning capital to shareholders despite a projected downturn in 2026 profitability. This policy positions the company as a reliable income stock in Vietnam’s consumer staples sector, potentially supporting its valuation through dividend yield appeal. The decision to maintain high payouts, even with lower profit targets, may reflect management’s confidence in cash flow stability or a strategic emphasis on shareholder returns over aggressive reinvestment.

What to Watch

• Confirmation of the VND 735 billion dividend payment on or after April 28, 2026.
• QNS’s Q1 2026 earnings release to assess progress toward the full-year revenue and profit targets of VND 10,500 billion and VND 1,512 billion, respectively.
• Any updates on the minimum 15% dividend target for 2026, including interim payment schedules.
• Market reaction post-ex-date on April 17, 2026, to gauge investor sentiment on the dividend policy amid lower profit expectations.
• Broader sector trends in consumer staples, particularly for sugar and soy milk products, which could impact QNS’s operational performance.