When participating in securities activities and the stock market, investors are entitled to rights associated with the securities under their ownership, such as the right to attend the Annual General meeting of public companies, the general meeting of investors of securities investment funds; receiving dividends, stock bonuses, right issue, receiving bond interest and principal, etc. Due to the nature of securities activities and the stock market, which involves continuous buying, selling, and transferring transactions, the list of securities holders fluctuates, and the issuer does not regularly monitor the list of securities holders. Therefore, to make decisions related to the rights of securities holders, organizations with securities registered at Viet Nam Securities Depository and Clearing Corporation (VSDC) (including listed/registered securities on the stock market) need to determine in advance the time for corporate entitlements and the list of investors entitled to rights associated with securities ownership.

From the investor's perspective, to proactively manage investments (continuing ownership for corporate entitlements, reducing/increasing ownership ration, or making new purchases to be entitled to corporation entitlements, etc.) in line with established investment goals and strategies, and to avoid missing out on benefits or making inappropriate buy/sell decisions, individual investors, in particular, need to be aware of and understand the regulations related to the timeframe for exercising these rights. Specifically:

- The record date for corporate action processing for securities holders (referred to as the record date) is the date on which only those holding securities on that date are entitled to receive the rights arising from the entitlements processing for those securities.

The list of securities holders on the record date is prepared by VSDC. Based on this list, VSDC calculates and allocates rights to securities holders according to the exercise ratio announced by the securities registering Institution.

- The ex-dividend date is the closing date that determines the list of eligible shareholders holding shares, thereby confirming who will be entitled to rights from the company or the securities registering Institution.

The ex-dividend date is the business day immediately preceding the record date for entitlement processing for securities holders (for example, if the record date is 6/5/2026, then the ex-dividend date is 5/5/2026). Accordingly, if an investor has purchased and held shares before the ex-dividend date, the investor will still be entitled to the related rights, and their name will be included in the list of entitled shareholders on the record date.
Some important notes for investors: the ex-dividend date and the record date are calculated based on the trading day (excluding holidays and weekends). Investors who buy securities on the ex-dividend date will not be entitled to the rights arising from those securities. Conversely, if investors sell securities on this date, they still retain the rights arising from those securities. For stocks traded on the stock exchange, the reference price of the stock on the ex-dividend date will be automatically adjusted downwards corresponding to the dividend value or the dividend payout ratio (except in some special cases stipulated in the relevant Guidelines of Vietnam Stock Exchange). This can affect the maintenance of a safe margin ratio and result in a loss of price advantage when selling existing securities, as the investor's total net asset value will be temporarily reduced.


How can investors access information about record date, or the ex-dividend date?

According to securities law, the relevant guidelines of Vietnam Stock Exchange, and VSDC:

Investors can access information about the ex-dividend date or the record date on the website of the organization that is required to disclose the information. Information disclosure systems of the State Securities Commission; the website of the Stock Exchange where securities are listed and traded; other means of information disclosure as stipulated in the Stock Exchange's regulations; and the website of VSDC. In addition, investors holding deposited securities will be fully and accurately notified by the depository member where they opened their depository account about the record date for entitlement processing with reference to those securities.

For further details, investors can refer to the regulations in Circular 96/2020/TT-BTC dated 16/11/2020, issued by the Minister of Finance, guiding information disclosure on the securities market, and subsequent amendments and supplements to Circular 96/2020/TT-BTC. Circular No. 98/2020/TT-BTC dated 16/11/2020, issued by the Minister of Finance, guiding the operation and management of securities investment funds and amendments and supplements to some articles of Circular 98/2020/TT-BTC; Guideline on corporate action processing for securities holders at VSDC issued together with Decision No. 38/QD-HDTV dated April 29, 2025, of VSDC; the Regulations on Listing and Trading of Listed Securities issued with Decision No. 22/QD-HDTV dated 16/3/2026, and the Regulations on Registration and Management of Trading of Unlisted Securities issued with Decision No. 23/QD-HDTV dated 18/3/2026, of Vietnam Stock Exchange; and other relevant documents.

Source: State Securities Commission


Source: State Securities Commission