Sunshine Group approves 17% stock dividend for 2025, marking its first dividend since listing

After years of accumulating profits to support its development strategy, Sunshine Group Joint Stock Company (HNX: KSF) will initiate its first dividend since listing on the Hanoi Stock Exchange in October 2021. According to the new resolution approved by the Board of Directors, KSF will issue nearly 153 million new shares to pay the 2025 dividend at 17%, meaning that for every 100 existing shares, shareholders will receive 17 new shares. After the issuance, the company’s charter capital is expected to exceed VND 10,500 billion. The action will take place in 2026. Notably, this is Sunshine's first dividend to shareholders since debuting on the market. Previously, the company had not paid cash or stock dividends. Under the 2026 annual general meeting resolution, KSF plans to pay the 2025 dividend at a maximum total of 85% in stock. Of that total, 17% will be paid from undistributed post-tax profits carried forward per the audited standalone financial statements for 2025, amounting to more than VND 1,651 billion. The remaining 68% will be distributed when the company receives dividends or advances from its subsidiaries. At the end of Q1 2026, Mr. Do Anh Tuan — Chairman of Sunshine Group — was the largest shareholder of KSF, with a 61.43% stake. With this dividend ratio, Mr. Tuan is expected to receive nearly 94 million additional shares. For 2026, KSF targets revenue of VND 40,000 billion and pre-tax profit of VND 15,000 billion, representing growth of 88% and 33% respectively versus 2025 results. In Q1 2026, KSF recorded revenue of over VND 1,545 billion and pre-tax profit of nearly VND 410 billion, up about 3x and 7x year-over-year. However, the company has completed only about 4% of its annual revenue target and nearly 3% of its annual profit target.