The day VN-Index was red, Sacombank shares increased dramatically after the news of upcoming dividend payment

The stock market in the first session of the week (April 21) was filled with red. As of 2:30 p.m., the VN-Index had lost nearly 15 points to nearly 1,200 points; indices on the Hanoi Stock Exchange also fell sharply. The entire market had more than 600 stocks falling in price, of which 17 stocks hit the floor. Liquidity was low, nearly 19,000 billion VND.

However, in that context, Sacombank's STB stock unexpectedly turned the tide, hitting the ceiling and then narrowing its increase to about 5% when trading at over VND40,000/share. This is also STB's peak in history.

STB stock price skyrocketed after news that Sacombank was about to pay dividends. Many investors "turned around" to buy this bank's stock with positive expectations.

According to the document sent to Sacombank's annual shareholders' meeting, which was updated on April 21, the proposal on increasing the bank's charter capital includes a plan to pay dividends. Specifically, the Board of Directors will submit to the General Meeting of Shareholders for consideration and approval of the policy of increasing Sacombank's charter capital to improve financial capacity, ensure operational safety ratios, and meet shareholders' interests.

Information that Sacombank is about to pay dividends after 9 years helped this bank's stock increase sharply in the session on April 21.

Sacombank is expected to issue shares to pay dividends to existing shareholders and bonus shares to employees with the option to increase charter capital. The source of use is from the remaining accumulated retained consolidated profits after distributing profits in 2024. This is the first time in 9 years that this bank has planned to pay dividends to shareholders.

"After being approved by the State Bank, the Board of Directors will develop a detailed plan, including the ratio of shares issued for dividend payment and the ratio of bonus shares issued to employees. The detailed plan will be consulted with shareholders in writing before implementing the procedures and documents to request permission from competent state agencies according to the law" - Sacombank's submission clearly stated.

In 2025, the bank aims to achieve pre-tax profit of VND14,650 billion, up 15% over the previous year. By the end of 2024, Sacombank's accumulated retained consolidated profit will reach VND25,352 billion.

According to the 2024 financial report, Sacombank's pre-tax profit exceeded VND 12,720 billion, an increase of 32.5% compared to 2023. Compared to the time the restructuring project began, Sacombank's profit increased about 82 times in the context of unchanged charter capital.

Source: https://nld.com.vn/ngay-vn-index-do-ruc-co-phieu-sacombank-tang-soc-sau-thong-tin-sap-chia-co-tuc-196250421143612979.htm