Tuesday, May 28, 2024 10:53:33 AM - Markets open
VN-INDEX 1,272.17 +4.49/+0.35%
HNX-INDEX 244.94 +2.11/+0.87%
UPCOM-INDEX 95.12 +0.25/+0.26%
Bank shareholders to receive high dividends, stock bonuses
Vietnam News - 4/3/2024 4:05:39 PM
 (0 ratings. You must sign in to rate.)
Banks are presenting to their shareholders plans to distribute cash and stock dividends while issuing bonus shares to shareholders.
Dividend payments at high rates
At the end of last month, the shareholders' meeting of Nam A Commercial Joint Stock Bank approved a 25 per cent dividend distribution plan for 2023 in the form of stocks to increase capital and enhance financial capacity.
The bank aims to raise its capital to over VNĐ13.7 trillion (US$551.3 million) this year and reach about VNĐ16.2 trillion by 2025.
In 2023, Nam A Bank released over 211.6 million shares to increase its share capital, with a dividend rate of 25 per cent.
Vietnam International Commercial Joint Stock Bank (VIB) was expected to propose a dividend distribution plan with a 29.5 per cent ratio at its shareholders' meeting on April 2, including a maximum cash dividend of 12.5 per cent, a stock dividend of 17 per cent and an issuance of bonus shares to employees at a rate of 0.44 per cent.
In detail, the bank will pay dividends in two stages: an interim cash dividend of 6 per cent and a cash dividend payment of 6.5 per cent. The total dividend payment amount will be VNĐ3.17 trillion.
The Board of Directors of VIB also proposes to increase the capital by issuing bonus shares to existing shareholders and its employees.
Meanwhile, Orient Commercial Joint Stock Bank (OCB) has set a target to increase its capital by an additional VNĐ4.2 trillion in 2024 through three options.
The first option involves issuing around 411 million shares to pay dividends to existing shareholders at a rate of 20 per cent.
The second option is to issue 5 million shares for employees, while the third plan is a private placement, where OCB will offer a maximum of 882,353 shares for sale.
If all three options are successful, OCB's charter capital will rise from nearly VNĐ20.55 trillion to over VNĐ24.7 trillion.
The specific timeline for implementing the capital increase phases will be determined by the Board of Directors, once approval is obtained from the relevant authorities.
Generous stock bonuses
This year, several banks in Việt Nam are taking a new approach to dividend distribution.
Instead of solely issuing stocks as dividends, they are paying both cash dividends and stock bonuses to increase their capital.
Techcombank, for example, plans to distribute a 15 per cent cash dividend and a 100 per cent stock bonus to its shareholders.
The lender’s Board of Directors will propose a 15 per cent cash dividend for 2023.
In addition, Techcombank's Board of Directors has proposed a capital increase scheme. The objective is to raise the charter capital from over VNĐ35.2 trillion to more than VNĐ70.45 trillion by issuing new shares from owner's equity.
This includes utilising undistributed profit after tax, additional reserves for charter capital and surplus capital based on the audited financial statements for 2023. The planned issuance ratio is 100 per cent, meaning that each shareholder will receive an additional 100 new shares for every 100 shares owned.
Asia Commercial Joint Stock Bank (ACB) plans to distribute dividends for 2023 from retained earnings, totalling nearly VNĐ19.9 trillion. The dividend rate will be 25 per cent, with 15 per cent in stock dividends and 10 per cent in cash, amounting to VNĐ9.71 trillion. This dividend ratio will also apply to 2024.
The dividend distribution will increase ACB's charter capital to nearly VNĐ44.7 trillion, with an additional VNĐ5.8 trillion and over 582 million new shares issued. The capital increase is expected to be completed in the third quarter of 2024.
MBBank's Chairman of the Board of Directors, Lưu Trung Thái has revealed that the bank plans to distribute cash and stock dividends in 2024, but the exact ratio has yet to be finalised.
Last year, the bank successfully raised its charter capital from VNĐ45 trillion to over VNĐ52.1 trillion by distributing stock dividends. — VNS
Read original article here
Newer News
27/05 Experts predict deposit interest rates to rise 1 percentage point in H2
22/05 Finance ministry works with S&P on sovereign credit rating
13/05 Central bank's bid to stabilise gold market hits snag
08/05 Proposal of compulsory non-cash payment for gold transactions controversy
08/05 Three bidders win gold auction at high price
06/05 Bank deposits decline for first time in over two years
06/05 SJC gold price hits all-time high
24/04 Two bidders win the first gold auction this year
24/04 HCM City seeks to draw remittances in infrastructure
24/04 HCM City could issue bonds for overseas Vietnamese to fund infrastructure: conference
Older News
28/03 Deposit interest rates to remain low until mid-2024: analysts
20/03 Central bank required to take urgent measures to stabilise gold market
20/03 Banks given advantages to CASA ratio
18/03 Việt Nam to revise gold market regulations: amendments to Decree 24/2012/NĐ-CP underway
18/03 Man owes bank nearly VNĐ9 billion in credit card's interest after 11 years
15/03 PM urges further rate cuts, improved credit access to remove obstacles, promote growth
14/03 Insurance premium revenue rebounds in the first two months
14/03 Foreign exchange rate cools after central bank’s intervention
14/03 Lukewarm reception for VNĐ120 trillion credit package
14/03 Banks remain reluctant in disclosing interest rates
Newsletter Signup
Top Stories
VN adds over 110,000 new securities accounts in April, bringing total to 7.7 million
Cautious rise amid low supply and cash flow, investors advised to monitor resistance area
Interest rates to rise but not have major impact on stock market: economist
Businesses concerned about rising exchange rate pressure
Gold bar auction to be resumed after 11 years of suspension
Market Update
Last updated at 10:45:00 AM
VN-INDEX 1,272.17 +4.49/+0.35%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.