VietinBank proposes to pay stock dividend at rate of 44.64%

NDO - Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank, code CTG) has just announced documents for the 2025 Annual General Meeting of Shareholders, in which it plans to submit to shareholders a plan to increase charter capital from remaining profit after tax, allocate funds and distribute cash dividends for the period 2009-2016 to increase charter capital from VND 53,700 billion to VND 77,671 billion.

Báo Nhân dân•14/03/2025

Accordingly, VietinBank plans to issue a maximum of nearly 2.4 billion shares, with an issuance ratio of 44.64% (the specific ratio will be implemented upon approval by the competent State agency) to existing shareholders. The General Meeting of Shareholders will authorize the Board of Directors to decide on the specific issuance time after receiving approval from the competent authority.

Vietinbank's Board of Directors also said that all additional capital will be used to serve business, invest in facilities, technology infrastructure, develop services and expand credit activities, investment and other business activities.

Also at the Congress, VietinBank's Board of Directors continued to present to shareholders a plan to use all profits after setting aside funds in 2024 to pay dividends.

In 2024, VietinBank's individual after-tax profit will reach VND24,259 billion, after setting aside funds, the remaining profit will be nearly VND15,597 billion. The level of stock dividends will need approval from the competent State agency, expected to be VND15,597 billion.

VietinBank has also proposed that competent authorities approve the policy allowing the bank to retain all annual profits for the 2024-2028 period to increase capital, improve financial capacity, and expand credit growth space.

In 2025, VietinBank's Board of Directors proposed a number of targets such as total assets growing from 5 to 10%, bad debt/credit balance ratio at below 1.8%. Targets on credit balance, pre-tax profit, dividends and operational safety ratio are approved by the State Bank or competent authorities. Mobilized capital is expected to grow in line with credit growth rate, ensuring liquidity safety indicators.

In the current shareholder structure of VietinBank, the State Bank is currently the largest shareholder holding 54.46% of capital; foreign shareholder MUFG Bank Ltd. holds 19.73% of capital.

In addition to the above contents, VietinBank's General Meeting of Shareholders is expected to consider other issues such as remuneration of the Board of Directors and the Board of Supervisors; listing and issuing bonds to the public;...

Source: https://nhandan.vn/vietinbank-de-xuat-chia-co-tuc-bang-co-phieu-ty-le-4467-post865125.html