VIB will hold an extraordinary general meeting of shareholders in June 2024

Vietnam International Commercial Joint Stock Bank (HoSE: VIB) has just issued a document announcing the agenda of the 2024 Extraordinary General Meeting of Shareholders to approve the charter and internal regulations, and other contents according to the Law on Credit Institutions 2024.

Accordingly, the General Meeting of Shareholders is scheduled to take place on the morning of June 11 at the Ballroom meeting room, Sheraton Saigon Grand Opera Hotel, District 1, Ho Chi Minh City.

The proposals that the bank's Board of Directors plans to submit to the General Meeting of Shareholders for approval include: VIB Charter; Internal regulations on VIB corporate governance; Regulations on organization and operation of VIB;

Amending Section 1.4 of the Annual General Meeting of Shareholders Resolution No. 1.001.24.GSM; Authorizing the Board of Directors to submit to the State Bank of Vietnam (SBV) for approval and supplementation of operational contents; Authorizing the Board of Directors to approve and issue financial regulations; Regulations on organization and operation of VIB's Supervisory Board.

In related developments, VIB's annual general meeting of shareholders in early April approved the plan to set up funds and distribute profits in 2023. Specifically, VIB will pay dividends at a rate of 29.5% on charter capital. Of which, the maximum cash dividend is 12.5%, stock dividend is 17% and bonus shares are issued at a rate of 0.44% for employees.

VIB stock price movements in the past month (Photo: FireAnt).

Regarding the cash dividend payment, VIB plans to divide it into 2 installments, the first installment is a 6% interim dividend and the second installment is a cash dividend payment at a rate of 6.5%. The total maximum amount expected to be used for dividend payment is VND3,171 billion.

The first cash dividend advance was approved by the bank's General Meeting of Shareholders at the end of 2023 and paid on February 21, 2024. In addition to cash dividends, VIB's Board of Directors also proposed a plan to increase charter capital through the issuance of bonus shares to existing shareholders and employees.

On the stock market, at the end of May 20, VIB shares increased by 0.9% to VND22,500/share with a trading volume of more than 7.4 million units.

The 5th extraordinary session on January 18, 2024 of the National Assembly voted to pass the draft Law on Credit Institutions 2024. The Law on Credit Institutions 2024 consists of 15 chapters, 210 articles and has new points such as: New regulations on the obligation to provide information of shareholders owning 01% or more of the charter capital of a credit institution, New regulations on early intervention in weak credit institutions; New regulations on early intervention in weak credit institutions; Regulations on legal representatives of credit institutions... The Law on Credit Institutions 2024 will take effect from July 1, 2024 .

Source: https://www.nguoiduatin.vn/vib-se-to-chuc-dhdcd-bat-thuong-vao-thang-6-2024-a664463.html