SGS Resumes Cash Dividend Payments After Four-Year Hiatus
Saigon Shipping Corporation (SaigonShip, ticker: SGS) has announced a Board of Directors’ resolution to distribute cash dividends for fiscal years 2023 and 2024, marking its first dividend payment after a four-year suspension since 2020.
Under the plan, the total dividend payout ratio reaches 92.5%, equivalent to VND 9,250 per share. With more than 14.4 million shares outstanding, SGS is expected to distribute approximately VND 133 billion, a level considered unexpectedly high compared with the broader maritime transport sector.
Record Date and Dividend Payment Schedule
The final registration date for shareholders to receive dividends is January 15, with the ex-dividend date set for January 14. The dividend payment is scheduled for February 3, 2026.
According to the resolution, the dividend breakdown is as follows:
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FY2023: 25% dividend payout
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FY2024: 67.5% dividend payout
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FY2025: Expected dividend of 11%
For fiscal years 2021–2022, shareholders approved the decision not to distribute dividends.
Major Shareholders to Benefit Significantly
In the current shareholder structure, Saigon Transportation Mechanical Corporation (SAMCO)—SGS’s parent company—holds 51% of charter capital and is expected to receive more than VND 68 billion in dividends.
Meanwhile, Global Logistics Services Co., Ltd. (GLS), which owns 37.42% of SGS shares, is estimated to receive nearly VND 50 billion from this dividend distribution.
The payout represents a substantial return for strategic shareholders following an extended period without dividend distributions.
Senior Management Changes Approved at 2026 AGM
Alongside the dividend announcement, SGS held its Annual General Meeting of Shareholders on January 5, 2026, approving all 11 proposals presented.
Regarding personnel changes:
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Two Supervisory Board members, Ms. Duong Thi Kim Kieu and Ms. Nguyen Thi Huyen Trang, were dismissed
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Mr. Dong Dang Son and Ms. Nguyen Vu Anh Thu were elected to the Supervisory Board for the new term
For the Board of Directors, shareholders elected Ms. Le Thi Thanh Thuan, CEO of SGS, as a board member for the 2021–2026 term. Mr. Tran Thien was appointed Chairman of the Board, while Ms. Huynh Nhu Y assumed the role of Vice Chairwoman.
Business Performance and SGS Share Price Developments
Founded in 1981, Saigon Shipping Corporation operates in maritime cargo transportation, freight forwarding, and logistics services, with a charter capital exceeding VND 144 billion.
For the first nine months of the year, the company reported:
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Net revenue: Over VND 100 billion, down 24% year-on-year
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Net profit after tax: More than VND 14 billion, down approximately 33%
Based on these results, SGS has fulfilled 96% of its annual revenue target and 74% of its full-year profit plan.
On the stock market, due to being under warning status and trading restrictions, SGS shares have remained flat around VND 22,200 per share over multiple sessions, corresponding to a market capitalization of approximately VND 320 billion.
