Vietnam Airports Corporation (coded ACV) has just announced a plan to distribute VND 21,192 billion of accumulated undistributed post-tax profits by the end of 2023.
Specifically, ACV will allocate VND 7,130 billion to the development investment fund, and the remaining VND 14,000 billion will be distributed as stock dividends. ACV expects to issue approximately 1.4 billion shares (equivalent to a distribution ratio of 64.58%, meaning that for every 1,000 shares held, shareholders will receive 645 new shares).
As a result, its chartered capital will increase from VND 21,771 billion to VND 35,830 billion, making ACV one of the state-owned enterprises with a chartered capital of over USD 1 billion on the stock exchange, following the Vietnam Rubber Industry Group (GVR), Binh Son Refinery Joint Stock Company (BSR), and Viettel Global (VGI).
This is the first time ACV has distributed stock dividends since its equitization and listing on the stock exchange in 2016. The “aviation boss” once had a period of consistently paying cash dividends at a rate of 6-9% in the first three years after its listing, before halting dividend payments in 2019.
According to the 2024 Annual Report, as of December 23, 2024, 95.4% of ACV’s capital was held by the Ministry of Finance, while the ACV Trade Union held over 3 million shares (equivalent to 0.14%).
105 organizations hold 3.62% of the capital, and approximately 8,000 individual shareholders own the remaining 0.83% of the shares (over 18 million shares).
The dividend plan comes as ACV sets new records in terms of revenue and profits. In 2024, ACV achieved VND 22,661 billion in revenue and VND 14,177 billion in post-tax profits, an increase of over 35% compared to 2023.
ACV continues to maintain high gross profit and net profit margins, at over 61% and 52%, respectively.
In the first quarter of 2025, ACV recorded revenue of over VND 6,368 billion, an increase of more than 12% compared to the same period last year. After deducting the cost of goods sold and expenses incurred during the period, ACV reported a post-tax profit of VND 3,014 billion.
ACV currently holds a monopoly on aviation services for domestic and international airlines, including security, ground handling, passenger services, take-off and landing services, etc. The corporation is in charge of managing, coordinating, and investing in the operation of all 22 airports in Vietnam, including 9 international and 13 domestic airports.
On May 29, ACV will close the list of shareholders to attend the 2025 Annual General Meeting of Shareholders. The meeting is expected to be held in late June. The main agenda items include reporting on the results of 2024 and the direction of operations for 2025, the plan for fund allocation and profit distribution, proposals regarding salaries and remuneration, and the approval of the auditing unit, among others.
