1) Dividend yield > 4% (higher than bond). 2) Payout ratio < 70% (sustainable). 3) 5+ years uninterrupted dividends. 4) Dividend growth > inflation (4-5%/year).
Not always. Yield > 8% may signal falling price (warning). Prefer "dividend growth" over "high yield".
Utilities (POW). Consumer staples (VNM, MSN). Blue-chip banks (VCB, BID). Real estate REITs.
PNJ, FPT, VNM, MWG, VCB — all pay stable dividends 5-10 years.
Cash dividends Vietnam: 5% tax. Stock dividends: no tax at receipt. Consider when investing.