TCBS pays huge dividend of 55%, parent bank Techcombank is about to receive 1,126 billion VND

TCBS pays "huge" 55% dividend, parent bank Techcombank is about to receive 1,126 billion VND

Dividend payment is expected in early August 2024. With 94.17% ownership, Techcombank will receive a "huge" dividend from this payment.

TCBS is about to spend 1,200 billion VND to pay dividends to shareholders.

The Board of Directors of Techcom Securities Joint Stock Company (TCBS) has just approved the payment of cash dividends to shareholders according to the proposal approved at the 2024 Annual General Meeting of Shareholders held at the end of April. Accordingly, TCBS will pay the entire amount in cash at the rate of VND 5,494 per share, equivalent to a payment rate of nearly 5%. The list of shareholders receiving dividends will be finalized in June, specifically on the 10th day from the date the Board of Directors issues the Resolution of approval.

Dividends are expected to be credited to shareholders' accounts on August 1, 2024.

TCBS currently has a charter capital of approximately VND2,177 billion, equivalent to a total of 217.699 million shares. With the above dividend payment, this securities company will pay a total of VND1,196 billion. TCBS's only major shareholder is currently Techcombank with a 94.17% ownership ratio. Techcombank is expected to receive VND1,126 billion in dividends from this payment.

In early 2023, TCBS increased its capital by more than VND10,000 billion through the issuance of individual shares at an issuance price nearly 9.6 times the par value. Charter capital increased from VND1,126 billion to VND2,177 billion. However, thanks to the recording of a large surplus of shares, equity exceeded the billion dollar mark. In the issuance in early 2023, parent bank Techcombank was also the shareholder contributing the most additional capital.

In June, Techcombank completed paying dividends to shareholders. With a payout ratio of 15%, the bank spent VND5,283 billion to pay cash dividends on June 5, 2024. This is also the first time Techcombank has paid cash dividends in more than a decade.

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Source: https://baodautu.vn/tcbs-tra-co-tuc-khung-55-ngan-hang-me-techcombank-sap-nhan-ve-1126-ty-dong-d218008.html