Vietnam corporate M&A, dividends, and market pressures

In early September 2026, the Vietnamese market experienced various corporate activities, including mergers and acquisitions (M&A) and dividend announcements. Notable M&A activity involved CII Infrastructure Investment Joint Stock Company increasing its stake in PC1 Group, while Nhat Viet Securities approved a plan to acquire shares in Alpha Reinsurance Joint Stock Company. Additionally, Japan’s Nissha announced the sale of its stake in USM Healthcare. Regarding shareholder returns, Dong Anh Electrical Equipment Corporation announced a 30% cash dividend for 2025. During the week of September 14–18, 2026, nearly 40 enterprises scheduled dividend rights finalization. An Giang Mechanical Joint Stock Company (CKA) offered the highest cash dividend at 120%, or 12,000 VND per share, with an ex-dividend date of September 18. Duc Giang Chemicals Group (DGC) planned an 80% cash dividend, combining 2025 and 2026 installments, while Hau Giang Pharmaceutical Joint Stock Company (DHG) announced a 50% cash dividend for late 2025. Viettel Global (VGI) also reported a record cash dividend of 33%. As the month progressed, approximately 24 to 25 listed companies scheduled shareholder list closures for dividend payments between September 28 and October 2, 2026. While cash dividends remained common—including 50% from D2D and 9% from VOS—several firms opted for stock dividends. Notable stock issuances included GLT, which planned a 25.5% stock dividend, and VAF, which expected to issue shares to increase its charter capital. TMS also planned to issue shares in addition to a 5% cash payment. Moving into mid-October, between October 12 and 16, 2026, approximately 12 to 15 companies and banks scheduled dividend rights finalization. Thuy Dien Nuoc Trong (NTH), Duc Giang Corporation (MGG), and Thuy Dien – Dien Luc 3 (DRL) are set to provide the highest cash dividend rate at 15%, or 1,500 VND per share. By mid-October 2026, the financial landscape showed mixed signals.