Listed Company “Goes Big” with Massive Dividend Payout of Over 16,600 VND per Share for Year-End

Western Bus Station Joint Stock Company (WCS, HNX) has announced that December 16 will be the record date for the 2024 cash dividend payment at a rate of 166.66%. Shareholders holding one share will receive VND 16,666. The ex-dividend date is December 15, with the payment scheduled for December 25.

With 3 million outstanding shares, Western Bus Station will allocate approximately VND 50 billion for this year-end dividend payment.

Earlier, at the 2025 Annual General Meeting held in late June, the company approved a 2024 cash dividend plan of up to 200%. This dividend rate surpasses previous years, such as 160% in 2023 and 20% during 2020-2022, when business operations were significantly impacted by the pandemic. For 2025, WCS plans to pay a minimum dividend of 20%.

Regarding the 2025 business plan, WCS shareholders approved a revenue target of nearly VND 177 billion and an after-tax profit of over VND 77 billion, both slightly higher than the 2024 results. This year, the company expects to serve approximately 10.7 million passengers with 488,485 bus departures. If these targets are met, WCS will achieve a record profit year.

In the first three quarters of 2025, WCS reported net revenue of nearly VND 130 billion, a 9% increase year-over-year. Financial revenue surged by 18% to VND 9.5 billion. After deducting expenses, the company’s after-tax profit reached nearly VND 65 billion in the first nine months, up 9% year-over-year.

With these results, WCS has achieved 73% of its revenue target and 84% of its profit plan for the year.

Financially, WCS’s Q3/2025 report shows that total cash and short-term financial investments reached VND 322.77 billion, accounting for 86% of total assets. Notably, WCS has no financial debt.

In related news, the Western Bus Station Board of Directors (WCS) announced a resolution following shareholder feedback on adding new business lines. The focus is on entering the electric vehicle market, including investments, operations, and installation of charging stations, along with related support services.

WCS’s move aligns with Ho Chi Minh City’s ambitious plans. The city aims to convert all buses to clean energy by 2030 and has drafted a proposal to transition over 400,000 gasoline motorbikes for ride-hailing drivers. To support this, the city plans to build 19 large bus charging stations and approximately 3,000 charging and battery-swapping points for other vehicles by 2028.

Under the city’s plan, SAMCO—WCS’s parent company holding 51% of its capital—will deploy charging stations at key transportation hubs, including Western Bus Station. This provides WCS with a direct advantage, leveraging its existing infrastructure as part of the broader initiative.

On the stock market, WCS shares are currently trading at VND 280,000 per share (as of December 3).