The Board of Directors of Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) recently approved the plan to distribute VND 16,441.5 billion in profit in 2022. After deducting VND 822 billion from the charter capital supplement reserve fund, VND 1,644 billion from the financial reserve fund and VND 2,327 billion from the bonus and welfare fund.
The bank plans to pay dividends in shares as approved by the competent State agency with an amount of nearly VND11,648 billion. If the dividend payment goes smoothly, VietinBank's charter capital is expected to increase to VND65,347.9 billion.
Another big player is the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank – HoSE: VCB), the Board of Directors of this bank has just approved the profit distribution plan for 2022 according to the approval principles of the State Bank. Accordingly, Vietcombank's after-tax profit in 2022 (individual, audited) is more than VND 29,387 billion.
After setting aside nearly VND1,470 billion for the charter capital supplement reserve fund, VND2,939 billion for the financial reserve fund and the reward and welfare fund, Vietcombank will use all of the remaining VND21,680 billion in after-tax profit to pay stock dividends to shareholders.
After completing the 2022 dividend payment, Vietcombank's charter capital is expected to increase by VND 21,680 billion, reaching more than VND 77,571 billion.
Prosperity and Development Joint Stock Commercial Bank (PGBank) has also finalized the list of shareholders to award shares at a ratio of 10:4 (equivalently, shareholders owning 10 shares will receive 4 new shares).
The total number of PGB shares issued is 120 million units, equivalent to a total par value of VND 1,200 billion. The capital for issuing shares is taken from accumulated profits and the charter capital supplementary reserve fund according to the bank's 2022 financial report.
Saigon Bank for Industry and Trade (Saigonbank – UPCoM: SGB) was also approved by the State Bank to increase its charter capital by a maximum of VND308 billion in the form of issuing shares to pay dividends.
Previously, the bank's 2023 General Meeting of Shareholders also approved the payment of dividends to existing shareholders in shares at a rate of 10%. Accordingly, SaigonBank plans to issue 30.8 million shares to pay dividends, with a par value of VND10,000/share. It is expected that after the issuance, the charter capital will increase from VND3,080 billion to VND3,388 billion.
Bac A Commercial Joint Stock Bank (Bac A Bank - HoSE: BAB) has recently completed the 2022 dividend payment in shares at a rate of 7.5% (equivalent to shareholders owning 1,000 shares receiving 75 new shares).
Accordingly, Bac A Bank issued more than 62.5 million shares with a total issuance value at par value of more than VND 625 billion. The source of implementation is from Bac A Bank's accumulated undistributed profits in 2022. After paying dividends to shareholders, the charter capital at Bac A Bank increased from nearly VND 8,334 billion to more than VND 8,959 billion.
Besides banks planning to pay dividends in stocks, some banks have been planning to pay dividends in cash such as VIB, VPBank, Techcombank...
Accordingly, Vietnam International Commercial Joint Stock Bank VIB has recently paid cash dividends in 2023 at a rate of 6% (equivalent to shareholders owning 1 share receiving 600 VND).
With more than 2,536.8 million shares in circulation, VIB spent about VND1,522 billion to pay dividends to existing shareholders.
Vietnam Prosperity Joint Stock Commercial Bank (HoSE: VPB) has also completed paying 2022 cash dividends at a rate of 10% (equivalent to shareholders owning 1 share receiving 1,000 VND) with a payment amount of 7,933 billion VND.
The source of expenditure is from the bank's undistributed profits after setting aside funds as of December 31, 2022 according to the 2022 financial report of VND 15,288 billion .
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