Amidst the stock market frenzy, shares of Saigon General Service JSC (Savico, code: SVC) also witnessed a vibrant trading session, surging to the upper limit with a 4.4% increase, pushing the market price to 29,400 VND per share.
Notably, SVC has witnessed a remarkable 34% surge in just one month, marking its highest level in 14 months (since July 2024). As a result, its market capitalization has climbed to nearly 1,960 billion VND.
This surge in the share price followed the announcement of a high dividend payout ratio. Specifically, the company notified that the ex-dividend date is September 11, for a 2024 dividend payout in shares with a ratio of 40%.
With over 66.6 million shares in circulation and a payout ratio of 40% (shareholders will receive 4 new shares for every 10 shares held), SVC will issue more than 26.6 million shares as dividends. Following this issuance, the charter capital is expected to increase from over 666 billion VND to nearly 933 billion VND.
According to the resolution of the 2025 Annual General Meeting of Shareholders, the 2024 dividend consists of two parts: 5% in cash (approximately 33 billion VND, paid at the end of September 2024) and 40% in shares. This is the first time Savico has combined cash and share dividends, deviating from their previous practice of solely cash dividends.
Upon investigation, it was revealed that Savico is a subsidiary of Tasco Auto – a wholly-owned subsidiary of Tasco. Notably, Tasco Auto (formerly known as SVC Holdings JSC) primarily engages in real estate and automobile retail and distribution businesses.
Tasco Auto currently holds a controlling stake in Savico and is also one of the largest automobile distributors in the country, having sold over 40,500 vehicles in 2024, capturing a market share of 13.7%. Additionally, Tasco Auto is the official importer of renowned international brands such as Volvo, Lynk & Co, Zeekr, and Geely, with a nationwide distribution network comprising 126 showrooms.
In a separate development, on July 16, Savico’s Board of Directors approved the decision to dissolve Otos JSC – the owner of the online automobile business platform Otos.vn, which was established in 2014.
Furthermore, Savico has recently passed a resolution to invest additional capital in Tasco Automobile Business Co., Ltd. (Tasco RT). Accordingly, Savico will contribute an additional 720 billion VND to Tasco RT, comprising 220 billion VND of Savico’s own capital and 500 billion VND in loans.
The purpose of this capital contribution to Tasco RT is to invest in the development of the Geely and Lynk&Co showroom chain across the country, which may involve multiple investment phases, with the initial phase focusing on the showroom network in the Northern region.
Regarding the 2025 business plan , Savico aims for consolidated revenue of over 29,700 billion VND (up 20% year-over-year), sales volume of 42,495 vehicles (up 5%), but expects a net profit of 83 billion VND, a decrease of nearly 17%.
For the first six months of 2025 , Savico recorded revenue of 12,276 billion VND and after-tax profit of 148 billion VND, increasing by 30% and 55.8%, respectively, compared to the same period in 2025. These figures represent 41.3% and 73.6% completion of the full-year business targets, respectively.
For the first six months of 2025, Savico recorded revenue of 12,276 billion VND and after-tax profit of 148 billion VND, increasing by 30% and 55.8%, respectively, compared to the same period in the previous year. These results represent a 41.3% completion of the revenue target and a 73.6% completion of the full-year profit plan.
A Stock ‘Blasts Off’ Post 40% Dividend Split: Share Price Soars to Over 1-Year High
This stock witnessed a staggering surge of over 34% in just one month, an impressive feat that demands attention.
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