A wave of dividend payouts in May highlights sharp disparities in returns among firms, as investors weigh high yields, consistency and sector diversity in refining portfolio strategies.
Leading the pack in payout ratios this month, on May 19, Transportation and Trading Services will pay a 2025 cash dividend of 36 US cents per share, representing a 90 per cent payout, the highest among distributions scheduled for May.
In 2025, it reported after-tax profit of approximately $172,000, while retained earnings reached more than $3.1 million by year-end. With around 8.6 million shares outstanding, the company is expected to disburse roughly $3.1 million in this dividend round.
This marks the highest dividend payout since the maritime transport company began operations.
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With a projected payout ratio of 39 per cent, Petroleum Mechanical also ranks among the top cash dividend payers for 2025. Shareholders will receive 15.6 US cents per share, with payment scheduled for May 15.
The company has maintained a consistent cash dividend policy for nearly two decades since 2005. Notably, the 39 per cent payout for 2025 represents a record high, surpassing its previous peak of 33 per cent in 2016.
With more than 7.2 million shares outstanding, total payout is estimated at $1.12 million.
Among other notable cash dividend payers, Western-Saigon Beer plans to issue its second 2025 cash dividend at 12 US cents per share. The firm is a subsidiary of Sabeco, which has completed its acquisition to secure a controlling stake.
In 2025, Western-Saigon recorded revenue of approximately $38.5 million, largely unchanged on-year. However, through cost optimisation and operational efficiency, after-tax profit rose 18 per cent to around $3.92 million, supporting a stable and relatively high dividend policy.
The company plans to maintain a 50 per cent dividend payout in 2026.
Several other companies will also distribute cash dividends, albeit at lower levels. For instance, Manufacturing and Materials Equipment Trading will pay a 16 per cent dividend, equivalent to 0.64 US cents per share on May 8. On the same day, shareholders of Thac Ba Hydropower will receive 0.4 US cents per share.
Also on May 8, Mien Trung Power Investment and Development will distribute a combined dividend of 0.52 US cents per share, including a 3 per cent payout for 2025 and a 10 per cent advance for 2026.
Meanwhile, Pharmedic Pharmaceutical Medicinal will pay a cash dividend of 0.56 US cents per share, with payment expected shortly after the holiday period on May 6.
Several other companies have already finalised record dates in April for share-based dividends, with payments set to follow in May. The wave of dividend distributions highlights significant variation in payout levels, alongside broad sector representation among companies rewarding shareholders.
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