HÀ NỘI — After more than a decade adrift without dividends, Vietnam Ocean Shipping JSC (VOSCO) is finally charting a course to reward its shareholders with an 11 per cent cash dividend for 2024, signalling renewed hope amid ongoing financial challenges.

VOSCO announced a dividend payout of VNĐ1,100 per share, totalling around VNĐ154 billion (US$5.8 million) for its 140 million shares in circulation. This will mark the company’s first dividend since 2011, when it paid out 8 per cent for the 2010 financial year.

Shareholders registered by the cutoff date of 12 September will receive payments scheduled for October 10. The majority shareholder, Vietnam Maritime Corporation (VIMC), which holds 51 per cent of VOSCO, stands to gain over VNĐ78 billion from the distribution.

Despite this positive developments, VOSCO remains buoyed by financial headwinds. In the first half of 2025, the company reported revenues of nearly VNĐ1.3 trillion, a steep 56.3 per cent decline from the same period last year. Net losses surged to VNĐ43.57 billion, contrasting sharply with the VNĐ358.4 billion profit recorded in the previous year.

The company’s gross profit margin dipped into the red, recording a gross loss of VNĐ1.67 billion compared to a gross profit of VNĐ80.89 billion in the previous year, due largely to operational difficulties, including selling below cost.

While financial revenue improved by 10.3 per cent year-on-year to VNĐ35.24 billion, financial expenses escalated sharply by 208.8 per cent to VNĐ14.73 billion. Nevertheless, selling and administrative expenses fell by 20.1 per cent to VNĐ61.43 billion, somewhat easing the financial pressure.

As a consequence of these setbacks, VOSCO is far from reaching its 2025 profit target of VNĐ376 billion before tax, which itself was a 10 per cent reduction from the previous year’s target.

The company closed the first half of 2025 with an accumulated loss of VNĐ26.55 billion, wiping out all retained earnings from prior years. — BIZHUB/VNS