Vinaship Announces 6% Cash Dividend Payout

Vinaship Joint Stock Maritime Transport Company (Stock Code: VNA, UPCoM) has recently announced its 2024 dividend payout to shareholders.

Accordingly, Vinaship will distribute a 6% cash dividend, meaning shareholders holding one share will receive 600 VND. The final registration date for shareholders is July 15, 2025, with payments commencing from October 20, 2025.

With approximately 34 million VNA shares currently in circulation, Vinaship is expected to allocate nearly 20.4 billion VND for this dividend distribution.

As of June 30, 2025, Vietnam Maritime Corporation (VIMC) holds 51% of Vinaship’s charter capital, equivalent to over 17.3 million VNA shares, and is projected to earn more than 10.4 billion VND in dividends.

Additionally, Vietnam Container Corporation (Viconship, Stock Code: VSC) holds over 13.6 million VNA shares and is anticipated to receive nearly 8.2 billion VND in dividends from Vinaship.

Regarding business performance, Vinaship’s audited consolidated financial report for the first half of 2025 shows a net revenue of nearly 319.9 billion VND, a 4.9% increase compared to the same period in 2024.

After deducting taxes and fees, the company reported a net profit of just over 326 million VND, a 98.8% decrease from the 27.8 billion VND profit in the same period last year.

Vinaship attributes this decline to the volatile international dry bulk shipping market in the first half of 2025. Specifically, in the markets where Vinaship operates, there has been a reduction in both volume and freight rates for cement imports from Vietnam to the Philippines. This is due to the Philippines’ imposition of protective tariffs, Vietnamese manufacturers prioritizing the higher-priced domestic market, and the increased efficiency of exporting clinker.

For rice, while the Philippines maintains regular imports from Vietnam and Thailand, the Indonesian market has yet to show signs of recovery.

Maritime operations in the first half of 2025 faced adverse market conditions, unstable cargo supply, increased time-charter ratios, and unforeseen risks in vessel operations, leading to higher costs and reduced operational efficiency compared to the previous year.

As of June 30, 2025, Vinaship’s total assets decreased by 4.4% from the beginning of the year to approximately 773.4 billion VND. Fixed assets account for 51% of total assets, amounting to over 394.8 billion VND, with inventory at nearly 37.2 billion VND.

On the liabilities side, total payables stand at over 206 billion VND, an 11.1% decrease from the beginning of the year. Of this, VAT and financial lease liabilities total 135.9 billion VND, representing 66% of total liabilities.