AsemconnectVietnam - Vinh Son - Song Hinh Hydropower Joint Stock Company (VSH) has just released shareholder documents for its upcoming shareholder meeting on March 26th.

According to VSH's documents, the hydrological situation in 2026 is forecast to be affected by La Nina in the early months of the year, then tending to shift to a neutral state, not maintaining a strong La Nina like in 2025. In addition, the total rainfall in the Central region in 2026 is forecast to be relatively stable.
Therefore, the company estimates the total commercial electricity output for the year to reach approximately 1.92 billion kWh, a decrease of 19.29%. The revenue target is VND1,887 billion and after-tax profit is VND584 billion, representing decreases of nearly 20% and 32% respectively compared to the 2025 results.
Besides the production and business plan, VSH also plans to propose to shareholders a temporary suspension of the project to raise the normal water level of Reservoir B - Vinh Son Hydropower Plant, the Vinh Son Hydropower Plant expansion project, and the Song Hinh Hydropower Plant expansion project. According to VSH, under current conditions, these projects are not favorable or feasible for implementation, and will be considered for restart when conditions are more suitable.
Instead, the Company will continue to monitor and research the development of renewable energy projects on existing hydropower reservoirs, including the Song Hinh reservoir with an expected capacity of approximately 200 MW, and the reservoir areas A and B at Vinh Son.
Regarding the profit distribution plan, VSH plans to propose to shareholders a dividend of 35% for 2025, equivalent to VND3,500 per share.
Just before the Annual General Meeting, Vinh Son - Song Hinh finalized the list of shareholders for the third interim dividend payment for 2025 in cash at a rate of 10%, bringing the total interim dividend paid over three installments to 30%. If this proposal is approved, VSH shareholders will still have one more dividend payment of 5% for 2025. For 2026, the company plans to pay a minimum dividend of 20%.
N.Nga
Source: VITIC/Tinnhanhchungkhoan