The November 10 session has closed, and the list of shareholders entitled to Binh Minh Plastics' (BMP, HoSE) first dividend advance of 2026 is effectively locked. Anyone holding BMP shares after that session will receive VND 6,500 per share, even if they sell on November 11.CafeF Anyone who buys from November 11 onward is not on the list, even though the official record date is November 12.
The earnings picture cuts both ways. Consolidated Q3 net profit fell 8.9%, yet the nine-month total is still up 2.4% year on year and already covers about 77.5% of the full-year plan. This post walks through the dates that change what is in a BMP holder's account, then sets the VND 532 billion-plus payout against the company's profit and cash.
The key dates and what changes in your account
According to CafeF, Binh Minh Plastics set a record date of November 12 for a cash dividend advance of 65%, or VND 6,500 per share. The ex-dividend date is November 11, and payment is scheduled for December 8. The board of directors issued the resolution, and Báo Pháp luật Việt Nam reports the same dates.Pháp luật VN
The November 10 session is the last chance to get on the list. Shares bought on the exchange take two business days to settle, so a buyer on November 10 holds the shares on November 12 and is recorded. BMP closed that session at VND 137,800, down VND 100 from the previous day.
On November 11, the reference price drops by the dividend. On the ex-dividend date, the reference price equals the previous close minus the cash paid per share.Finhay For BMP, VND 137,800 minus VND 6,500 gives VND 131,300. That is the formula result; HoSE publishes the official figure before the session. A current holder loses nothing at this step, because the amount deducted from the price is the cash that will arrive in the account. A buyer on November 11 pays the already-reduced price and does not receive this payout.
November 12 is the record date. The Vietnam Securities Depository and Clearing Corporation compiles the list of owners that day. For anyone trading on the exchange, the practical cutoff was already the November 10 session.
December 8: the cash arrives. For individual shareholders, cash dividends count as investment income, taxed at 5% personal income tax and withheld before payment.MISA A simple example: someone holding 1,000 BMP shares gets VND 6,500,000 before tax, has VND 325,000 withheld, and receives VND 6,175,000. Per share, that is VND 6,175.
How big is the VND 532 billion against profit
With more than 81.86 million shares outstanding, the total planned payout is over VND 532 billion.Pháp luật VN Against consolidated Q3 2026 results, that is about 1.67 times Q3 net profit of VND 319.3 billion, and about 54% of nine-month net profit of VND 990.4 billion.Pháp luật VN
An advance larger than one quarter's profit sounds like a lot, but it is not unusual for this company. According to CafeF, BMP's 2025 cash dividends totaled 148.6%, or nearly VND 1,217 billion across two payments, the highest in the company's history.
Q3 slipped, the nine-month total is still rising
In Q3, consolidated net revenue came to VND 1,463 billion, down 4.5% year on year. Cost of goods sold rose 9.4% to VND 873.2 billion, so gross profit fell 19.7% to VND 589.6 billion. The gross margin narrowed from about 48% to 40.3%.CafeF
Costs moved the other way. Selling expenses fell 33.4% to VND 136.2 billion and financial expenses fell 46.7% to VND 42.6 billion. As a result, Q3 pre-tax profit fell only 9.3% to VND 399 billion and net profit fell 8.9%, a much smaller drop than gross profit. CafeF notes this ended a run of three straight quarters of profit growth.
For the first nine months, the trend is still up: net revenue of VND 4,239.7 billion, up 0.4%; pre-tax profit of VND 1,237.9 billion, up 2.2%; net profit of VND 990.4 billion, up 2.4% year on year. The 2026 shareholders' meeting approved a net profit plan of VND 1,278 billion.Tạp chí Công Thương After three quarters the company is about 77.5% of the way there, and Q4 needs roughly VND 288 billion in net profit to hit the plan, less than Q3 alone delivered.
Where the dividend money comes from
When the latest quarter's profit falls, investors in steady dividend payers tend to ask whether the payout is funded by borrowing. The September 30, 2026 balance sheet answers that fairly clearly.
Total assets stand at VND 3,747.7 billion. Cash and cash equivalents rose nearly 140% from the start of the year to VND 713.2 billion. Short-term financial investments are VND 1,470.2 billion, down 18% from the start of the year. Together that is more than VND 2,183 billion, about 58% of total assets, and the VND 532 billion dividend is only about a quarter of it. On the funding side, financial borrowings are just VND 54.9 billion, under 1.5% of total assets, while retained after-tax profit is nearly VND 1,149 billion, enough to cover this advance.Pháp luật VN
One point needs reading carefully: cash itself is VND 713.2 billion, and most of the VND 2,183 billion block is short-term financial investment. The two lines are reported separately, so the whole block should not be called cash. Even so, cash and cash equivalents alone exceed the payout.
Who receives the money
BMP's largest shareholder is The Nawaplastic Industries (Saraburi) Co., Ltd., part of Thailand's SCG Group, with more than 45 million shares, or 54.99% of charter capital. If that stake holds until the record date, Nawaplastic is expected to receive about VND 292.6 billion. The second-largest holder is KWE Beteiligungen AG, based in Switzerland, with more than 9.3 million shares, or 11.37%, expected to receive about VND 60.5 billion.Pháp luật VN
Together the two hold about 66.4% of the capital, so roughly VND 353 billion of the VND 532 billion goes to these two names. The remaining VND 179 billion or so is split among all other shareholders, including individual investors.
What each group should do
- Holding BMP after the November 10 session: nothing more is needed to receive the cash. Selling on November 11 or later still keeps the right to VND 6,500 per share. When checking your account on November 11, compare the market price with the reference price after the dividend deduction, not with the VND 137,800 close of November 10.
- Planning to buy BMP from November 11: this payout is not yours, and the price to compare against is the reference price after the VND 6,500 deduction.
- December 8: check the cash arriving in your brokerage account. For individual shareholders, the amount is VND 6,175 per share after the 5% tax.
Q3 showed a thinner gross margin, but nine-month profit is still rising and the balance sheet has enough cash to pay the dividend without borrowing. The next signal to watch is the Q4 report: BMP needs roughly VND 288 billion in net profit to reach its annual plan. If the gross margin returns above Q3's 40.3%, that profit comes easily. If the margin keeps narrowing, it comes harder.