
STOCK CODE BMK – A GROWTH CATALYST FROM DIVIDEND DISTRIBUTION
By Phuc Hoang . August 20, 2025 | News
Black Cat Insulation Technical Joint Stock Company (Black Cat JSC), Stock code BMK, has recently paid a 5% cash dividend and approved a stock dividend at a rate of 18%. The ex-dividend date is August 25, 2025 – just five days left.
Stock Dividend – Strengthening Capital and Enhancing Financial Capacity
The Company distributed a 5% cash dividend from profits to shareholders on July 17, 2025, while simultaneously approving a stock dividend at a ratio of 18%.
August 26, 2025, will be the record date for Black Cat Insulation Technical Joint Stock Company (Stock code: BMK) to finalize the shareholder list for the 18% stock dividend (with the ex-dividend date falling on August 25, 2025). With over 6.8 million outstanding shares, the Company expects to issue approximately 1.22 million additional shares.

The 18% stock dividend issuance is aimed at increasing charter capital to support business expansion strategies and scale up production capacity. The combination of profit distribution and capital increase reflects a prudent financial orientation, aligned with medium- and long-term objectives.
Raising charter capital through stock dividends does not dilute the ownership ratio of existing shareholders but enhances the Company’s financial capacity for large-scale project deployment. For investors, the additional shares are considered an accumulated asset, which may unlock value if the Company delivers on its commitments to growth in manufacturing and international market expansion in the near future.
Background and Positioning of Black Cat Insulation Technical JSC
As a contractor specializing in insulation products and installation services, scaffolding, painting and anti-corrosion, passive fire protection solutions, and refractory materials, Black Cat JSC has established a solid track record in large-scale projects across industries such as brewing, oil & gas, and clean energy (LNG, LPG, Hydrogen)



The Company’s listing on UPCoM at the end of 2024 has opened new opportunities to access capital, enhance financial transparency, and strengthen its brand positioning in the capital market. However, the Company’s modest capital base and relatively low liquidity remain existing weaknesses—challenges that this stock dividend distribution is expected to partially address.
Investor’s Perspective – What Makes BMK Attractive?
The company reported a net profit of VND 9.1 billion, equivalent to earnings per share (EPS) of VND 1,340. Although this represented a decline from the previous year due to a sharp increase in investment expenses, the current EPS still reflects solid financial fundamentals as the Company expands production and executes its international market entry strategy.
From a financial and investment perspective, BMK stock demonstrates several attractive factors sought by investors. First, the Company possesses extensive experience in industrial insulation, with a diversified customer base spanning F&B, oil & gas, and clean energy segments such as LNG and liquid hydrogen — helping mitigate cyclical risks.
Second, operating in a niche industry with high technical barriers and limited competition provides potential for significant margin improvement as the Company scales up. This is further supported by the ongoing investment wave in renewable energy, food processing, and chemicals—sectors with rising demand for insulation solutions in the near future
Finally, a transparent dividend policy and flexible business strategy enhance the appeal of BMK shares. The fact that the stock is currently trading at a reasonable valuation relative to its growth potential also presents an opportunity for long-term accumulation.
In a highly differentiated market, companies with clear strategies and consistent execution capabilities tend to attract strong investor interest. Operating in a sector with robust growth demand, the Company is expanding production, strengthening international partnerships, and maintaining a transparent dividend policy. With these solid fundamentals, BMK stock stands out as a suitable choice for medium- to long-term investors seeking a balance between sustainable growth and risk management.