On November 6, the board of Hoang Anh Gia Lai International Investment JSC (HGI) approved a first cash dividend advance for 2026 at 7%, or VND 700 per share.Markettimes The record date is November 18, 2026, and payment is expected on December 4, 2026. The resolution came three days before HGI's shares make their first trade on UPCoM.
Put simply, the payout calendar was fixed before the market had matched a single order. For someone who paid for IPO shares, or plans to buy HGI on the exchange this week, the practical question is: what do I need to do, and by which date am I on the list? This piece walks through each date in turn.
What the November 6 resolution decides
With about 187.3 million shares outstanding, HGI will pay out VND 131.11 billion in total.Markettimes The money comes from undistributed after-tax profit, based on HGI's reviewed standalone first-half 2026 financial statements. The board authorized Mr. Doan Nguyen Duc, HGI's Chairman, to oversee the shareholder list, the payment and the disclosures. Nguoi Quan Sat also reported the news on the evening of November 6.Người Quan Sát
HGI shares begin trading on UPCoM on Monday, November 9, according to a Hanoi Stock Exchange notice relayed by Markettimes, with a reference price equal to the IPO price of VND 60,600.Markettimes The record date therefore falls nine days after the first session.
The dates, and what happens to your account
Monday, November 9: IPO shares can be traded
The IPO closed on October 2 and placed all 18.8 million shares with investors.Người Quan Sát From the November 9 session, those who paid for IPO shares can hold or sell them on the trading board. Anyone without HGI can buy for the first time.
The ex-dividend date: the line between on the list and off it
This is the most important date for anyone planning to buy in the first sessions. Think of it as a line drawn on the calendar. Buy before the line and still hold through it, and you are on the list for VND 700. Buy on the ex-dividend date or later, and you are not.
Under the current settlement cycle, this date usually falls one session before the record date. The official date will appear in notices from the Vietnam Securities Depository and Clearing Corporation (VSDC) and the Hanoi Stock Exchange for the November 18 record date.
On that day HGI's reference price is adjusted: the previous close minus VND 700. The deduction is not a loss for holders, because the same amount reaches their account as cash on the payment date. Someone who sells on the ex-dividend date itself still receives the dividend, since the entitlement attached to the shares they held beforehand.
Wednesday, November 18: the list is fixed
VSDC compiles the list of HGI holders as of the record date. That list is the only basis for paying the first advance. Those on it need to do nothing further, as the money is sent through the brokerage where the shares are held in custody.
Around December 4: cash arrives
For resident individuals, cash dividends are subject to 5% personal income tax under the 2025 Personal Income Tax Law, withheld before payment.Each VND 700 becomes VND 665 net. A holder of 1,000 shares receives VND 665,000.
How big is this payout
Against earnings, the VND 131.11 billion is modest. HGI's consolidated third-quarter report shows after-tax profit of nearly VND 1,129 billion for the first nine months of 2026.VnEconomy This advance equals roughly 11.6% of that figure. The two numbers are not on the same basis: the dividend source is the standalone half-year report, while the nine-month profit is consolidated.
Against the full-year dividend plan, this is only the first slice. Markettimes reports that HGI's 2026 plan includes a 50% cash dividend, or VND 5,000 per share, and the VND 700 advance is about 14% of that.Markettimes Outlets describe the plan in two ways. VnEconomy writes "a 50% cash dividend", while Doanh Nhan Tre writes that HGI intends to distribute 50% of annual profit in cash for three straight years.Doanh Nhân Trẻ One is measured against par value, the other against profit. Either way, what the board decided on November 6 is a small part of the year.
Most of the cash flows to Hoang Anh Gia Lai
Hoang Anh Gia Lai JSC (HAG), HGI's parent, holds more than 142.25 million HGI shares per the prospectus, about three-quarters of the post-IPO capital.Markettimes The exact stake differs by outlet: Markettimes says about 75.95%, CafeF 75.48%, Doanh Nhan Tre 74.79%.CafeF If HAG keeps its shares through the record date, it receives nearly VND 100 billion in cash from this payout.
For HAG shareholders, that cash has to be read in the right statement. On HAG's standalone accounts, the nearly VND 100 billion will be financial income. On the consolidated accounts, HGI is a subsidiary, so intra-group dividends are eliminated and do not raise HAG's consolidated profit. In cash terms, seen from the whole group, what actually leaves the Hoang Anh Gia Lai group is about VND 31 billion paid to HGI's other shareholders. Within that, the IPO shares, if still held on the record date, receive about VND 13.2 billion before tax.
What is settled and what is pending
What is settled is the mechanism of the first advance. Anyone on the November 18 list receives VND 700 per share before tax, expected on December 4. Those who buy from the ex-dividend date onward do not. The reference price that day is cut by exactly VND 700, and the cut is offset in cash for holders.
Two things are pending. The first is the official ex-dividend date, which will come in notices from VSDC and the Hanoi Stock Exchange. Anyone buying HGI to be on the list should check their trade date against it. The second is any further payout for 2026. Each advance needs its own board resolution, and the rest of the year's dividend will be set by those resolutions together with the annual general meeting.