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Dam Sen Water Park Joint Stock Company (ticker DSN) has announced that May 19 will be the final registration date to determine the shareholder list for its year-end 2025 cash dividend payment.
The company set a payout rate of 16, equivalent to 1,600 dong per share. With more than 12 million shares outstanding, DSN expects to spend over 19 billion dong to settle with shareholders.
DSN previously paid the first tranche of the 2025 dividend. After completing this payment, the company will fulfill the remaining portion of the 2025 dividend plan approved at its ordinary general meeting held on April 22.
At the AGM, shareholders approved the 2025 dividend plan with a total payout of around 29 billion dong, based on a minimum cash dividend rate of 24% of charter capital.
Shareholders also approved DSN’s 2026 net revenue target of 190 billion dong, up 4.7% compared with 2025. Pretax profit is expected to reach 92 billion dong, while net profit is projected at 73 billion dong, slightly higher than the previous year.
DSN said it faces increasing challenges due to intense competition from new entertainment complexes, particularly large-scale parks in Ho Chi Minh City and nearby areas, including Suoi Tien, Son Tien, Vinhomes Grand Park, and Đại Nam in Binh Duong.
Đại Nam Tourist Complex is owned by Dai Nam Joint Stock Company, founded by Huynh Uy Dung and Phuong Hangs husband. The project was built with total investment of 6,000 billion dong and opened on 11/9/2008. The company noted that Đại Nam has attracted millions of visitors annually, squeezing the market share of long-standing operators such as Dam Sen, especially among younger customers.
At the AGM, Tran Viet Anh, Chairman of the Board, outlined three main focuses for 2026.
DSN plans recapitalization to cut losses and limit the impact on overall results. The company previously invested in a juice plant in Phan Thiet to expand operations, but the project did not meet expectations. DSN said it is seeking partners to divest this project.
For 2026, DSN will not pursue a project in District 9 due to planning and market conditions. Instead, the company will look for investment opportunities in neighboring provinces, especially in the Mekong Delta region, where climate and development potential are similar. Specific information will be announced when conditions permit.
On land lease matters, DSN said it is awaiting administrative stabilization after the merger to advance the renewal of the land lease for Dam Sen Water Park. After completing legal procedures, the company will implement renovation and upgrade plans and invest in new rides to improve the park’s overall quality.
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